The French legislature passed a law prohibiting all oil and gas exploration and production within its borders and territories by the year 2040—right around when oil is expected to reach peak demand. The law passed a final vote on Tuesday, which also forbids the issuance of any new licenses or license renewals. The new measure is largely symbolic as France produces enough fossil fuels to account for just one percent of demand. Imports fulfill the remaining demand. The new provision shows that “current generations can take care of future generations,” according to Environment Minister Nicolas Hunt. Earlier this month, French utilities company Engie agreed to ditch natural gas as a power source by 2050, opting instead for biogas and renewable hydrogen to fulfill its green goals, according to a Reuters report. “We will progressively make our gas greener so that by 2050 it can be 100 percent green,” Chief […]