Balanced energy policy or a chaotic transition – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

Balanced energy policy or a chaotic transition – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

NET zero decarbonation, carbon storage, hydrogen, and biofuels are the new vocabulary of the current age. How soon will we move away from fossil fuels? Will it be by the end of 2050? Is the world moving too fast? Will the US producers increase or decrease investments in oil and gas? Are we hearing constant messages from the American administration in its fight against higher oil prices for making the American voters happy? Is it practical? Meanwhile, oil companies are reducing their investments by more than 50 percent, or leaving the core of OPEC+ producers, which are facing hostile criticism for pushing the oil prices up when they are being asked to both invest and reduce prices at the same time. Today, the world is facing some imbalance in its energy supply in oil and gas.

This is mainly aimed at pushing away from fossil fuels, knowing well that it is not possible to reach the targeted date of the end of 2050. Europe is facing a shortage of gas supply from Russia because of the politics involved. It is depending more than 40% on one single supplier. A compromise must be reached in this regard. At the same