OPEC Cuts Daily CO2 Emissions by 740K Tons

Today's headline says that OPEC is likely cutting oil production by 2 million barrels/day. Doing the math, that equates to 740K metric tons of CO2e per day, or 270M tons per year.

You can pretty much read the news of the economic slowdown and see the signs of an economy-driven tail-off in global GHG emissions. Obviously we'd all much rather see the reductions coming from efficiency and greener energy, but I'm sure the atmosphere isn't complaining.

Now's the time to make changes - if we can get good practices in place, then maybe we can drive the emissions down from here instead of having to go back up to the previous highs and starting from there.

Comments:

You said "OPEC is likely cutting oil production by 2 million barrels/day. Doing the math, that equates to 740K metric tons of CO2e per day, or 270M tons per year. "

Now, I don't exactly know the math involved... but is 740K/day the result of \*cutting production of 2 million barrels a day\* or the result of \*not consuming 2 million barrels a day"?

I ask because there's a huge difference between the two.

If the answer is the latter (not consuming), then we're not really saving 740K/day because we wouldn't be using less oil. In fact (assuming this is the case) the only thing OPEC has accomplished is keeping the price of oil from dropping even lower than it already has.

On the other hand, if we are saving 740K/day by just not producing 2 million extra barrels of oil a day... then that's definitely a good thing. Of course, this still affects the price of oil as supply will catch up with demand.

Posted by Art on December 18, 2008 at 05:54 AM EST #

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