The Energy Secretary, Grant Shapps, has granted more than 100 new oil and gas licences for extraction in the North Sea. Photo by Dan Kitwood / Getty Images. There is no shortage of oil or gas in the world and none of the world’s producers are intending to stop production. Most of the world’s industrial nations are on course to reduce fossil fuel usage even as Opec continues to pump out around 30 million barrels per day. The International Energy Authority warns that if the world is to have a chance of keeping global temperature rises to 1.5°C above pre-industrial...