This group brings together the best thinkers on energy and climate. Join us for smart, insightful posts and conversations about where the energy industry is and where it is going.

Tariq Siddiqui's picture
COO Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

  • Member since 2021
  • 101 items added with 50,970 views
  • Oct 13, 2021 9:00 pm GMT
  • 635 views

Later in the month, energy leaders are headed for Glasgow for the 26th annual United Nations Framework Convention on Climate Change (UNFCCC), known as COP26. Conference leaders have also asked for increased monetary contribution for regulatory framework for implementing and enforcing the pledges made in the 2015 Paris agreement.  At the same time an energy crisis is unfolding in Europe and Asia which could set the world back in terms of carbon emissions, and which showcases just how difficult the road to decarbonization will be. 

WHATS HAPPENING
  • The energy crisis that is unfolding across the globe could set the world back in terms of carbon emissions as coal and gas demand skyrockets.
  • Achieving net-zero is going to require an extremely delicate balancing act as the world struggles to move away from fossil fuels while keeping the economy running smoothly.
  • In the energy sector, supply has simply been unable to keep up with demand, causing an energy crunch and severe price spikes in the European Union, China, and India,
  • EU is trying to walk a tightrope act between getting enough natural gas from Moscow to stay afloat without seriously compromising their energy security.
  • China has now lightened its restrictions on coal mining for the last three months of the year in order to keep the lights on and keep supply chains in motion
  • The critics say; the current U.S. administration is repeating the mistake that the EU made in its ambition to green itself up and cut emissions both deeply and quickly

 

BOTTOMLINE

Achieving net-zero is going to require an extremely delicate balancing act as the world struggles to move away from fossil fuels while keeping the economy running smoothly. This current crunch is likely just one of many similar hiccups to come. Energy-strapped countries are going back to coal, that spells out major trouble for the climate. The green transition likely won’t be easy or smooth, and will almost certainly continue to hurt consumers in the process, but the alternative is far worse. 

 

 

 

Tariq Siddiqui's picture
Thank Tariq for the Post!
Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
More posts from this member
Discussions
Spell checking: Press the CTRL or COMMAND key then click on the underlined misspelled word.

No discussions yet. Start a discussion below.

Get Published - Build a Following

The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                 Learn more about posting on Energy Central »