France plans to end oil output by 2040 with exploration ban
Oil and gas production will end in France from 2040. A plan presented by Ecology Minister Nicolas Hulot in July will also progressively increase taxes on fossil fuels, close coal-fired power plants by 2022, and invest more in renewable energies.
BY FRANCOIS DE BEAUPUY, BLOOMBERG
France will stop granting new exploration permits next year as it seeks to end all oil and gas production by 2040, according to a draft bill presented at a cabinet meeting Wednesday.
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