The global climate effort of lowering down the temperatures can refrain the development of oil.

Perhaps most troubling for oil companies over the long term is the goal — agreed to last December by virtually every country in the world at a climate conference in Paris — of staving off a rise in average global temperatures of more than 2 degrees Celsius above preindustrial levels.

A former French official who led efforts to crack down on tax cheats was convicted on Thursday of tax fraud and money laundering. A three-judge panel at a Paris criminal court sentenced Jerome Cahuzac, who had served as President Francois Hollande’s budget minister for less than a year, to three years in prison.