At last month's United Nations Climate Change Conference (COP26) in Glasgow, nearly 40 countries and institutions pledged to end public finance for oil, gas, and coal projects overseas. Unfortunately, similar progress on the demand side for coal, oil, and gas has been lacking. The current surge in fossil-fuel energy prices reflects a multitude of highly idiosyncratic factors. Hydrocarbon lobbyists have been quick to exploit the recent uptick in fossil-fuel energy prices to advocate for renewed government financing and subsidies. That means focusing on the inevitable, well-managed decline of coal, oil, and gas and their substitution by sustainable clean energy.

Source: Bangkok Post December 17, 2021 05:11 UTC