COP27: A Parade Of Climate Hypocrisy

  • Date: 10-Nov-2022
  • Source: Forbes
  • Sector:Oil & Gas
  • Country:Egypt
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COP27: A Parade Of Climate Hypocrisy

Every year, global climate summits feature a parade of hypocrisy, as the world’s elite arrive on private jets to lecture humanity on cutting carbon emissions. The current UN climate summit in Egypt offers more breathtaking hypocrisy than usual, because the world’s rich are zealously lecturing poor countries about the dangers of fossil fuels—after devouring massive amounts of new gas, coal, and oil.

Since Russia’s invasion of Ukraine pushed up energy prices even further, wealthy countries have been scouring the world for new sources of energy. The United Kingdom vehemently denounced fossil fuels at the Glasgow climate summit just last year, but now plans to keep coal-fired plants available this winter instead of shutting almost all of them as previously planned. Thermal coal imports by the European Union from Australia, South Africa and Indonesia increased more than 11-fold. Meanwhile, a new trans-Saharan gas pipeline will allow Europe to tap directly into gas from Niger, Algeria and Nigeria; Germany is reopening shuttered coal power plants; and Italy is planning to import 40% more gas from northern Africa. And the United States is going cap-in-hand to Saudi Arabia to grovel for more oil production.