Irving, Texas - Despite clear reports from the UN's Intergovernmental Panel on Climate Change that we need to stop emitting greenhouse gases, fossil fuel companies are locking us into the climate crisis with massive new projects.

The fossil fuel industry is dropping bombs – and the environment will be taking the hit.

Major fossil fuel contributors are investing in 195 "carbon bombs" – extraction projects that would each result in one billion tonnes of CO2 emissions, according to a special report by The Guardian.

When put together, that's equal to a staggering 18 years of current global CO2 emissions, which would be in addition to the already unsustainable amount of carbon emissions.

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China, Russia, and the US lead the pack with the most emissions locked into carbon bomb projects.

Plus, right now, the 12 biggest fossil fuel companies – like Exxon Mobil, BP, and Shell – have promised to spend about $100 million every day until 2030 to exploit new oil and gas fields.

That sum, which will total just around $300 billion, is going into getting fossil fuels out of the ground – even though there is already more than enough oil, gas, and coal in reserves ready to be burned to take us past the climate destruction tipping point.

Based on current carbon budget estimates, almost all the oil and gas from the proposed carbon bomb projects needs to stay in the ground to avoid the worst effects of climate change, according to Nature.

The time to take climate action is now, but the window to do so is shrinking, and will shut completely if the fossil fuel industry continues investing in its climate bombing projects.