The future of fossil fuels

Meeting a 2°C objective implies a strict carbon budget of maximum 900 billion tonnes of CO2  emissions from the energy system between today and the end of the century. A 2°C energy transition would therefore imply a significant decrease in fossil fuel use, with different trajectories for coal, oil and gas. In this context, fossil fuels should be considered as a scarce resource and their use concentrated in applications with highest value and limited alternatives, especially in industry.