Climate change is primarily attributed to CO2 buildup in the atmosphere. CO2 continues to increase because of increasing use of fossil fuels, including coal. CO2 capture and storage is a failure. With this backdrop, a number of climate scenarios have emerged. All of them are based on temperature increase as a result of CO2 buildup. This paper examines a few of these, with two caveats: there is incontrovertible evidence that temperature data has been tampered with, and second, climate models are still woefully inadequate. Given that, what is the future of oil and gas production, including phase-out of all fossil fuel use? Also, what other short term use of the incredible amount of money being spent on largely ineffective measures would be more fruitful?.