“It is imperative that all parties involved in the ongoing climate negotiations pause for a moment; look at the big picture,” Haitham Al-Ghais, secretary-general of the Organisation of Petroleum Exporting Countries, said Sunday at an energy conference in Cairo. They must “work towards an energy transition that is orderly, inclusive and helps ensure energy security for all.”
US President Joe Biden went off-script during his State of the Union speech last week and said: “We’re going to need oil for at least another decade.” In Europe, Shell Plc signaled it will stop accelerating spending on renewable energy, while BP Plc slowed its planned reduction of oil and gas output.
