In 2020, oil accounted for more global energy consumption than any other source — approximately 30% — and the EIA projects that, on our present course, it will remain the world’s number-one source of energy, possibly until as late as 2050. Because it’s such a carbon-intensive fuel (though less so than coal), oil was responsible for 34% of global carbon emissions in 2020 and that share is projected to rise to 37% by 2040. At that point, oil combustion will be responsible for the release of 14.7 million metric tons of heat-trapping GHGs into the atmosphere, ensuring even higher average world temperatures.   More

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