Oil Depletion Protocol: Oil and Climate Change Perhaps the most
damaging effect of petrochemicals is global warming. The use of
fossil fuels releases carbon dioxide and methane, two greenhouse
gases that trap the Earth’s heat within the atmosphere, leading
to warmer oceans and climates, unstable weather, rising sea
levels, flooding, drought, changes in water flow, declining
amounts of potable water, forest fires, famine, species
extinction, and pressure on species to adapt, among other
things. These changes are not going to take place immediately –
they will occur over decades. However, they will gradually
increase in occurrence and severity, and will require ongoing
mitigation and response. The projected effects of climate change
are sufficient reason by themselves for us to seek to reduce
fossil fuel dependency wherever possible. However, Peak Oil will
challenge our ability to deal with and adapt to global warming:
a decline in global oil supply paired with an increase in the
cost of goods and services redu