France may come up with a law to ban all production and exploration of oil and natural gas by 2040 on the country’s mainland and overseas territories.
France’s oil and gas production represents just one percent of national consumption and the rest is imported. The current drilling permits will not be renewed. A draft bill will be formally presented at a Cabinet meeting later Wednesday. France currently has 63 oil and gas drilling on its territory.
According to government claims, this is a first-of-its kind ban. It is part of a larger plan to wean the country’s economy from fossil fuels, to encourage clean energy and fulfil France’s commitments under the Paris Climate Agreement to curb global warming.
The bill elaborated by environment minister Nicolas Hulot also includes a definitive ban on all shale gas exploration and extraction.
Hulot has already announced in July that France will stop producing power from coal now 5 percent of the total by 2022.
France also wants to reduce the proportion of its power from nuclear energy to 50 percent by 2025, from the current 75 percent.
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