Climate change kills US to push for more oil production Adam Toze

TThe United Nations Framework Convention on Climate Change (IPCC) has highlighted the seriousness of the climate crisis. Faced with an unprecedented and unique challenge, the central question is: Can we change course quickly to catch the damage and protect the planet that is halfway there? If the IPCC’s serious findings are not shocking enough, it is likely that widespread climate action will be slowed down.

Given the growing danger, mood swings can forgive us. Earlier this year, the balance of political and economic power seemed to fluctuate rapidly toward decarbonation. China, Japan, and South Korea pledge zero zero. Climate liar: Trump loses White House The new Biden administration was pushing for what was called a big green infrastructure program. The NextGenerationEU stimulus package boosted expectations. First, the Bank of England and then the European Central Bank. The German Green Party was running high in the elections. Investors and financial markets were dumping waste. Even a lobbyist, such as the International Energy Agency, once developed a zero-to-zero course designed to represent the needs of oil consumers. On July 14, he announced the sale of 55 new internal combustion engines in the early 2030s.

That was a high point, but it was also a turning point – in the wrong direction? Tragically, when we crush the IPCC’s findings, there is a sense of urgency. The G7 coal in Cornell in June failed to reach an agreement. The European Union and the United States are at odds over carbon tariffs. A split meeting of G20 environment ministers in Naples last month showed how much goodwill was in place ahead of the November 26 Coppa summit. In the UK, the Tori party, which presides over the meeting, is embroiled in a bitter climate dispute. In the US Congress, Biden’s infrastructure budget has been reduced to a sham. Meanwhile, as the world economy continues to recover, rising oil prices have raised fears of rising oil prices. In Germany, greens are disturbed by oil prices. Finally, in a statement from the White House, National Security Adviser Jack Sullivan made the remarks public.

Sullivan’s statement reads:

“Without significant gasoline costs, the ongoing global recovery could be jeopardized. Crude oil prices were higher than at the end of 2019 before the outbreak. While OPEC + recently agreed to an increase in production, these increases will not fully compensate for OPEC’s previous product cuts until 2022. President Biden has made it clear that he wants Americans to have affordable and reliable power, including in Pamot. Although we are not members of OPEC, the United States has always spoken to international partners about important issues affecting our national economic and security issues, both public and private.

Yes, you did. One of Binden’s top officials, the climate-promising policy was “everywhere” in the policy, declaring oil prices to $ 3.17 a gallon a matter of national security and declaring that the United States would protect its rights. cajole OPEC and Russia are flooding the world with more oil.

We must not underestimate the word – if this is the position of the Binden administration, the decarbonation agenda is well and truly buried. According to an IEA official, if we want to reach a net zero by 2050, we must now stop expanding fossil fuels. In Europe, such as LLL, they are being told to make plans according to the courts. To fill the gap, Saudi Arabia, the world’s largest oil producer, has announced that it is expanding its capacity. Biden’s national security adviser shed light on the green light.

Not just oil markets. Gas prices are also rising and there are calls to expand capacity. There is a power play at work. If politicians are serious about decommissioning, the oil and gas industry will stop making new investments. As things stand still, economic activity and fossil fuel consumption combine, so rising demand for volatile supplies is causing a spark in prices. Consumers pay that price and vent their frustrations on politicians. And there is a measure of social justice. Rising fuel prices are hurting low-income consumers. Biden’s administration is committed to US “middle class” foreign policy. By Sullivan’s definition, that means pushing OPEC and Russian oil oligarchs to expand production. It is completely the opposite of the IPCC message, it was published just days ago.

The United States is unique in that it has real geopolitical resources among Western powers. If the EU or Japan shout, OPEC and Russia make noise, that is why it is such an important challenge for Biden’s administration. If the United States is to cope with the crisis, it must use its special geopolitical approach to curb fossil fuels, not to continue.

If prices increase, let it be too late for wealthy consumers to switch from large SUVs to electric vehicles. It is not the pressure of OPEC that is needed to help low-income Americans, but the broader measures that prevent oil prices from putting too much pressure on household budgets. That is why Binden’s job, salary, family and care economy agenda is so important. If it is a matter of fuel poverty, for example, take national assistance for the Poets Program, which will provide incentives to exchange old cars for new, fuel-efficient ones. Meanwhile, push hard for EV infrastructure and change research and development to make low-carbon alternatives affordable for everyone.

The breakdown of Biden’s infrastructure plans and Sullivan’s oil policy have joined forces. The United States can control climate change globally. Until he does, as a fossil fuel addict, run by a Republican or a Democrat, it’s basically unbelievable. Keep this in mind by reviewing the IPC conditions.

  • Adam Toze is a professor of history at Columbia University. The book, “Closing-How Covenant Shakes the World Economy,” was published on September 7

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