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Briefing
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- World’s First Ban on Oil and Gas – French parliament votes to stop producing oil and gas by 2040, becoming world’s first country to pass bill into law
- Current Production – France currently 99% dependent on oil and gas imports, and produces 815,000 tons of oil per year, same amount that Saudi Arabia extracts in few hours
- Legislative Ban Policy – Will no longer approve new licenses to extract fossil fuels and renew existing ones after 2040
- Potential Bandwagon Effect – Socialist lawmaker Delphine Batho said she hopes ban would be contagious, encouraging big producers of oil and gas to follow
- Petrol and Diesel Car Ban – Plans to ban sale of petrol and diesel cars by 2040
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Accelerator
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Market Disruption
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Sector
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Energy, Government (excluding military)
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Organization
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France National Assembly
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Source
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Original Publication Date
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December 20, 2017
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