Big Oil plans to spend nearly US$5 trillion in capital expenditure over the next decade, much of which would go into adding new production. Yet this money will also bring the world farther from the Paris Agreement climate targets, a report from energy industry-focused nonprofit Global Witness warns. The organization analyzed a report compiled by the International Panel on Climate Change last year and then compared the data with the spending plans of the oil and gas industry. What it found was that investment in any new oil and gas field development…
