The International Institute for Sustainable Development reports that 824 new oil and gas exploration licenses were awarded over the past year. These licenses could potentially release over 2,260 million tonnes of CO2 if fully exploited, contradicting global climate commitments to transition away from fossil fuels. Recent activity shows a surge in U.S. leasing, particularly in Alaska's North Slope, driven by high energy prices and a push to increase LNG exports to Asia. The report also highlights significant upcoming licensing rounds in China and other regions that risk locking in fossil fuel infrastructure for decades.
