France says it will end oil and gas production by 2040 (1 Visits)

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The French government unveiled a draft law which is intended to end oil and gas production in all French territories by 2040. The law would mean no new permits to extract oil and gas and no renewed licence to be renewed beyond 2040. This move is mostly symbolic since France produces less than 1 million barrels of oil per year, and it actually imports 99% of its oil. 

France is hoping the gesture will prompt other larger oil and gas producing nations to follow their lead. Gas capture from mines would still be permitted, and the bill would also ban the extraction of shale gas. The government also said it will ban the sale of diesel and petrol engine cars by 2040.

Read the article here.