They are called carbon bombs, and they are projects that could condemn our planet. The term has been used to identify those fossil fuel exploration and extraction projects capable of releasing into the atmosphere at least one billion tonnes of CO2 over the course of their entire life cycle. To put that in perspective, that is nearly three times the emissions that Italy produces in a year (376 million tonnes) — the same amount that would be generated by driving around the world by car 90 million times.

The Guardian ✓ @guardian

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Guardian front page, Thursday 12 May 2022 – Revealed: 'Carbon bombs' set to trigger a climate catastrophe

♥ 114💬 10 11 mag 2022 · Apri su X →

There are 195 carbon bombs: if exploited, they would condemn us

The calculation appears in a study published by the British daily Guardian, which listed 195 carbon bombs. If fully exploited, they will produce CO2 emissions totalling 646 billion tonnes (gigatonnes, Gt). Sixty per cent is linked to projects already in operation, while the remaining 40 per cent has not yet got under way. And it should not, if we want to meet the climate targets set out in the Paris Agreement of 2015.

A study published in the scientific journal Nature in September 2021 indicated in this regard that in order to have a 50 per cent probability of keeping global warming within 1.5 degrees Celsius by the end of the century, we can afford to release into the atmosphere at most 580 billion tonnes of CO2. This means that, for the vast majority, fossil fuels will have to stay where they are. That is to say, underground. Regardless of whether they are destined to be burned or not, they should not even be extracted. To be precise, we will have to forgo 89 per cent of coal reserves (826 billion tonnes), 59 per cent of natural gas reserves (92,000 billion cubic metres) and 58 per cent of oil reserves (744 billion barrels).

United States, Saudi Arabia and Russia the countries with the most carbon bombs

The carbon bombs identified by the Guardian therefore exceed the total carbon budget that humanity still has available. Their complete incompatibility with the protection of the Earth's climate is entirely clear in this regard. The interests at stake, however, are enormous. Among the countries that would gain the largest share of this slice are the United States with 22 bombs and 140 billion tonnes, Saudi Arabia with 107 billion and 23.5 bombs, and Russia with 83 billion and 25 bombs. Then there are Qatar with 43 billion and Iraq with 28. And what about China? It comes in seventh place with 27 billion tonnes of CO2 and 11 bombs — far fewer than one might expect given its population. The same amount as Canada and Brazil, for that matter.

Carbon bombs in Mozambique and Qatar

Among the worst carbon bombs, two in particular stand out. Both are linked to gas exploitation. And both involve Italy's Eni. The one considered by the Guardian to be the worst of all is located in Qatar. It is an immense natural gas field called North Field East, believed to hold 10 per cent of the world's reserves. Doha recently announced the names of the international partners that will help Qatar Energy exploit it: France's TotalEnergies, America's ConocoPhillips and, indeed, Eni.

Another potentially disastrous project for the climate is that of Cabo Delgado, in Mozambique, where an immense offshore gas field has been discovered off the northern coast of the African nation. We are talking about 5,000 billion cubic metres. A quantity that would exact an immense price from the planet in terms of greenhouse gases, as well as posing risks to the local environment, starting with marine biodiversity. Among the funders, alongside Eni, are US-based Exxon Mobil and once again France's TotalEnergies. The latter is reported to have planned an investment of 25 billion dollars.

Valori.it @Valori_it

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In Qatar sta nascendo un progetto riguardante il gas naturale già classificato come "la peggiore bomba climatica al mondo". Poteva Eni tirarsi indietro ed evitare di prenderne parte? Certo, ma ovviamente ha scelto la via dei fossili. valori.it/eni-bomba-clim… #crisiclimatica

♥ 3 22 giu 2022 · Apri su X →

In general, the usual suspects are behind the carbon bombs: in addition to the companies already mentioned, they include, among others, Gazprom, Saudi Aramco, Petrobras, Turkmengaz, Chevron, Shell and BP. Together, they intend to spend a total of up to 387 million dollars a day — around 346 million euros — on oil and gas exploration between now and 2030.

387 million dollars a day for fossil fuels

Around a quarter of this immense sum of money — 103 million dollars (92 million euros) — would go towards funding the extraction of fossil fuels that could not even be burned if we want to avoid the worst effects of climate change. Money, therefore, that should be redirected immediately towards the development of clean and renewable energy sources. If the world were far-sighted.