David Knight

Divestment is strictly the selling up of all fossil fuel share holdings. However it is currently difficult to decide which fossil should have priority for this though gas is widely, though probably inaccurately, considered to be of less priority than the other fossil fuels, or even exempt from divestment*.

Recent work cited in our report shows that the remaining global fossil fuel resources (mainly coal) would produce an enormous 9-13 trillion tonnes of greenhouse gas emissions. If all of it were burnt without capturing the carbon it would be enough to raise the average global temperature some 18 degree C, may be more. This 9-13 trillion tonnes is large compared with the 0.5 trillion tonnes already produced since the start of the Industrial Revolution. Nearly half of this 0.5 trillion tonnes remains in the atmosphere causing serious problems resulting from a warming of only 0.6 degree C. A recent report by independent consultants shows that there are planned mega fossil fuel projects which would add nearly 2 trillion tonnes of carbon by 2020 . Discharging all of this to the atmosphere would set the world on a path to warming 5 -6 degree C, already the stuff of nightmares. Discharging the additional 7-10 trillion tonnes would be an act of insanity.

As I perceive it Climate change and Peak Oil are the two most serious threats to biodiversity, human life, and civilisation as we know it. The main purpose of this talk is to consider three possible visions or scenarios concerning Peak Oil and Climate Change.