France Becomes The First Country In The World To Ban Oil & Gas Production
The parliament of France has approved to pass a law to ban all exploration and production of oil and natural gas by the year 2040 within the country and its overseas territories.
Under that law that passed a final vote on Tuesday, the permits of existing drills will not be renewed and no new exploration licenses will be granted.
The French government claims the ban is a world first. However, it is largely symbolic since oil and gas produced in France accounts for just 1% of domestic consumption. The rest is imported. Environment Minister Nicolas Hulot says the law shows "current generations can take care of future generations."
The ban is part of a larger plan to wean the French economy from fossil fuels and to fulfill France's commitments under the Paris climate agreement to cur...