The article outlines the effects of President Trump’s “drill, baby, drill” fossil fuel policy on global climate commitments, highlighting a potential slowdown in clean energy transitions as countries like Indonesia, South Africa, and Argentina consider increasing fossil fuel production. Experts express concerns about the ramifications for global climate goals as major energy firms shift focus toward oil and gas.
The 2023 UN climate summit in the UAE concluded with a significant call for transitioning away from fossil fuels, signaling hopes for robust global climate action. However, concerns rise regarding the momentum of this commitment as the clean energy transition appears to be decelerating, while fossil fuel consumption continues to escalate, largely influenced by U.S. President Donald Trump’s pro-fossil fuel administration.
Trump’s “drill, baby, drill” mantra, which emphasizes bolstering fossil fuel extraction, has started to sway some nations and energy corporations. For example, Indonesia’s special envoy for climate change, Hashim Djojohadikusumo, questioned the rationale for Indonesia’s adherence to poverty reduction commitments if the U.S. is abandoning international agreements.
“If the United States does not want to comply with the international agreement, why should a country like Indonesia comply with it?” – Hashim Djojohadikusumo, Indonesia’s Special Envoy for Climate Change.
In South Africa, the country’s transition away from coal, backed by an $8.5 billion foreign investment, is facing delays, exacerbating local carbon emissions. Despite setbacks in renewable energy transition, some growth remains evident in that sector.
Argentina, responding to Trump’s departure from the Paris Agreement, has shifted its stance and indicated plans to withdraw from the climate accord. Argentine environmental lawyer Enrique Viale stated, “We now expect our oil and gas production to go up.”
Energy firms are also adapting to this newfound fossil fuel emphasis. Equinor has announced it will reduce investment in renewable energy while enhancing oil and gas output, with BP anticipated to follow suit soon.
Trump’s broader ambition to distribute American energy globally is already bearing fruit, with countries like India and South Korea positioning themselves to procure more American oil and gas. Following recent agreements, Japan’s JERA aims to expand its purchase of US liquefied natural gas.
Experts warn that a surge in U.S. fossil fuel exports could significantly hinder global energy transitions. Lorne Stockman from Oil Change International indicated that such actions might impede the transition to clean energy initiatives.
Scientific consensus dictates that to prevent global warming from surpassing 1.5 degrees Celsius, fossil fuel extraction must cease, and carbon emissions need to be reduced by approximately 45% from 2019 levels by 2030.
Reports highlight that while global investments in energy transition exceeded $2 trillion last year, the advancing clean energy initiatives have decelerated recently, with numerous financial institutions still supporting fossil fuel investments.
The ongoing influence of Trump’s fossil fuel policies raises significant concerns for the global climate strategy, as several nations reevaluate their commitments to reducing carbon emissions. The shift towards increasing fossil fuel production in countries like Indonesia and Argentina reflects a potential regression in the progress made towards clean energy transitions. As the international community grapples with this trend, the urgency to adhere to climate agreements becomes increasingly critical to mitigate the effects of climate change.
Original Source: www.bbc.com
