A study shows that half of fossil fuels may go out of use in 15 years

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An unprecedented survey released by the journal Nature shows that about half of the world’s fossil fuels may be unnecessary in 2036. The study details that the change in the world’s energy matrix, which tends to be increasingly sustainable, is mainly responsible for the devaluation of Petroleum-derived products. The projection was made based on the demand of the 70 industry sectors that most need the input in the world.

According to the survey, companies linked to this type of exploration should suffer a financial crisis in 15 years, as they will be in possession of ‘idle assets’, such as land, factories and investments, without the possibility of generating large profits. This is because the study shows that a barrel of oil should not cost more than US$ 35 in 2036. Currently, the same barrel is sold for values ​​above US$ 80 (about R$ 440).

“One of the main objectives of climate policy is to progressively replace the use of fossil fuels with renewable energies. The rapid depreciation and replacement of fossil fuels associated with the need to preserve the environment lead to a profound reorganization of the industrial, international trade and geopolitical value chains. Depending on production decisions, long-term oil prices may remain as low as US$ 35 bbl”, highlights an excerpt of the research published this week by the journal Nature.

However, the transition can generate economic instability over the years, especially in countries where the product is part of the production chain. The survey points out that nations that start to phase out the use of these fuels earlier and invest in other energy sources could reduce losses in the long term.

Brazil, the United States, Norway and Russia are among the countries that produce the most fossil fuels, according to the survey. The European Union, Japan and India are among the biggest importers of the product.

Reference: CNN Brasil

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