Oil producers face costly transition as world looks to net-zero future. Last year’s oil crash coincided with an unprecedented focus by global governments, corporations and the public on committing to net-zero emissions targets by 2050. For producers, a global shift towards cleaner fuels will amplify the challenges of the past year, prompting questions about which resource rich countries can come out of the energy transition in the best shape. The International Energy Agency has warned of the drastic impact that pursuing a net-zero emissions target by 2050 could have. Opec’s share of world production would rise to more than half of the total, as oil and gas supplies become concentrated among a smaller number of countries, but annual per capita income from these commodities could fall by as much as 75 per cent by the 2030s.
FT 26th May 2021 read more »
Even Lukashenko’s piracy can’t derail Nord Stream 2 – and Putin knows it. Germany will pay a heavy geopolitical price for its addiction to Russian gas, but it doesn’t seem to care.
Telegraph 26th May 2021 read more »