Financial Times/David Keohane: France plans to ban oil and gas production by 2040

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France plans to ban oil and gas production by 2040

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France is set to present a new law on Wednesday banning the production and exploration of oil and natural gas by 2040 on its mainland and overseas territories.

The draft bill says that current drilling permits will not be renewed, according to the Associated Press.

The French government confirmed on Tuesday that the law would be tabled on Wednesday.

Although somewhat symbolic, considering French oil and gas production represents a tiny fraction of national consumption with most being imported, the law would represent another move by France to meet its commitments under the Paris climate accord.

It also builds on promises made in July as part of the country’s Climate Plan which promised to “leave fossil fuels in the sub-soil” and that “hydrocarbon exploration plans will be prohibited so that, by 2040, France no longer produces any oil, gas or coal.”

As part of that plan France’s new environment minister Nicolas Hulot had already announced his intention to end the sale of petrol and diesel cars in the country by 2040.
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