France Passes Law To Ban All Oil, Gas Production By 2040
Posted by BeauHD on 19th December 2017
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An anonymous reader quotes a report from CBS News: France’s parliament has approved a law banning all exploration and production of oil and natural gas by 2040 within the country and its overseas territories. Under that law that passed a final vote on Tuesday, existing drilling permits 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 percent of domestic consumption. The rest is imported. French President Emmanuel Macron responded to the approval of the law on Twitter, saying in part: “Very proud that France has become the first country in the world today to ban any new oil exploration licenses with immediate effect and all oil extraction by 2040.”

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