Ahead of OPEC’s key meeting, Iraq’s finance minister, one of the founders of the world’s largest oil company, has called on partner oil producers to move from fossil fuels to renewable energy.
Ali al-Alawi, Iraq’s deputy prime minister, wrote in the Guardian that he wanted to pursue “economic reforms based on healthy environmental policies and technologies, including solar energy and nuclear power plants, and reduce dependency.” On fossil fuel exports.
Fateh Bureau, executive director of the International Energy Agency, wrote: And Natural Gas ከ If oil revenues begin to decline before they can successfully separate their economies, living conditions will deteriorate and poverty will increase.
Ministers from 13 OPEC member states met on Wednesday to discuss possible oil embargoes. As economies recover from the VV-19 epidemic, OPEC has previously agreed to increase production, but with declining markets, some have suggested stopping the increase.
Last month, US President Joe Biden argued that OPEC should increase oil production so as not to increase oil prices and help the US economy recover. The request has been rejected.
The Guardian also learned that Wednesday’s OPEC meeting could discuss an unusual climate crisis for fossil fuels before the UN climate talks in Glasgow called Cop26.
Alalawi and Birol say the current fluctuations in oil prices are just the beginning of problems for producers. Climate crisis is not only a pandemic, but it is also affecting the Middle East and North Africa, where the problem is already serious.
International Energy Agency (IAA) A.D. Global demand for oil by 2050 could reduce global oil demand from 90m barrels a day by 2050 to 25m, reducing oil revenues by 85 percent.
“Increasing economic hardship and unemployment in a region where one of the world’s youngest and fastest-growing people is causing widespread instability and instability.”
Another option is to invest in renewable energy, especially solar energy, in order to stay afloat. He said the energy sector could play a role here by using the region’s vast potential to produce and supply clean energy.
Iraq is a founding member of the cartel, which includes several of the world’s largest oil producers, including Saudi Arabia, Kuwait, the United Arab Emirates, Venezuela, Nigeria and many other oil producers. The OPEC + group also includes Russia and some small producers. While many have called for action on climate change, some have abandoned climate science, particularly in Saudi Arabia, which has repeatedly been a stumbling block to UN climate change negotiations.
The III warned in May that to keep the world at 1.5C from pre-industry levels, the bottom line in the Paris Agreement – all OPEC members are signatories – must then stop all new oil exploration this year.
Asked about the findings, Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, told reporters after the OPEC meeting in June: [the] La La Land movie… Why do I take it so seriously? ”
Earlier, Saudi ministers began flirting with climate change, suggesting that the country could use solar power in the future. But no one has strongly suggested a policy to stop oil exports.
However, some oil producers have taken a more dove stand. Oman, which is no longer a member of OPEC, is pursuing hydrogen as a potential low-carbon fuel for the future. The United Arab Emirates is working on hydrogen, and renewable energy, and recently inaugurated a new nuclear plant. Egypt, Morocco, and Jordan are among the countries with extensive renewable energy programs.
Burell B. Guardian, one of the world’s leading energy economists, says: “In the richest countries in history, the economic model seems to be about to change. Countries in the region have been making some progress on the transition. There are promising steps [among oil producers]But, as is the case with many other countries around the world, achieving net zero emissions requires strong action and greater international cooperation.
He added: “The IAA has been warning for many years that countries that rely heavily on oil and gas revenues want to move their economies away from fossil fuels in order to keep pace with the transition to clean energy. In a world where oil and gas demand is structurally weak – and countries do not take drastic measures to increase their diversity, Kovid’s impact on the oil market last year gives us a glimpse. They boost economies and resilience. ”