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Drill Baby Drill Returns as G20 Drops Fossil Fuel Phase-Out from Final Draft

OilPrice.com Tuesday, 19 November 2024 ()
The G20 just fumbled the fossil fuel debate. Or did it? Rio’s final G20 statement dropped any explicit call to phase out oil, gas, and coal. Instead, it offered vague applause for the UAE Consensus from COP28. This wasn’t an oversight. It was a decision. At COP28, 200 countries agreed to phase out fossil fuels by 2050. The G7 doubled down earlier this year. COP29 in Baku was supposed to build on this. Then Rio happened. Now, G20 leaders are dodging the hard part. No one should be shocked. The idea that “inexperienced aides”…
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