Carbon Supply Cost Curves: Stressed at 2 Degrees

Mark Fulton, Senior Research Advisor to Carbon Tracker, presents the key high level findings of the report launched on 25th November in London:


Highlights:

  • $2.2 trillion of capex through 2025 associated with unneeded fossil fuel supply, which through 2035 equates to 156 GtCO2 of emissions

  • No new thermal coal mines needed through 2035

  • 1/3rd of potential oil supply from new projects is unneeded

  • 1/4th of potential gas supply from new projects is unneeded

  • 90% of unneeded fossil fuel capex tied to oil and gas

  • Risks to private-sector oil and gas, with listed and partly-listed companies owning 2/3rds of capex and carbon associated with unneeded oil and gas production

  • “High-cost carbon traps” that include Canadian oil sands, Arctic oil and gas (US, Russia, Canada), deep/ultra-deep water oil and gas (e.g. Mexico and Brazil) and LNG projects (e.g. Qatar, Australia, and Indonesia)

  • High state ownership of unneeded thermal coal supply, in India and China. Listed exposure to US and seaborne