WEF panel praises 'green energy' for transition from Russian oil and gas

Alex Dhaliwal
  |   January 21, 2024   |   Be the first to comment

WEF panellists claim the war in Ukraine prompted Europe to rethink their dependence on Russian fossil fuels and embrace a 'just transition.'

"Don't be dependent on one country for fossil fuels, [and] don't be dependent too much on [Russian] fossil fuels," said Jennifer Morgan, a German Climate Action Official.

In May 2022, Germany and other members of the European Union (EU) pledged to end Russian pipeline imports, effectively barring 90% of its oil into the region, reported the BBC.

At the time, the former Soviet Union supplied 27% of the EU's imported oil and 40% of its gas. The Eurocentric body paid them approximately 430 billion USD a year in return.

Europe also imported about 700,000 barrels per day of Russian diesel — around half its total imports of the fuel, according to market analysts.

That changed last February when the EU banned all Russian refined oil products in retaliation for the war in Ukraine.

According to experts, the Kremlin's natural gas and oil exports funded the tanks and rockets used in Ukraine, inflicting death, pain and suffering on its people since February 2022.

SecondStreet.org president Colin Craig says the world needs to ease off Russian energy, calling it 'irresponsible' to import their oil and gas regardless of Ukraine.

According to the Paris-based International Energy Agency (IEA), oil and gas revenues comprised approximately 45% of Russia's federal budget in 2021.

Last July, several European environment ministers called for "an urgent phase out from fossil fuels." They desired a "rapid decline of fossil fuel production and use within this decade." 

The IEA's World Energy Outlook 2022 report projects that the petro state's share of internationally traded gas will fall from 30% to between 10–15% by 2030. Russia's oil exports are projected to fall by 25% over the same period.

"Diversify of course," said Morgan. "Go domestic, and drive-up renewable energies." 

Germany, in particular, made considerable strides to cease Russian imports at the end of 2022, according to Germany’s American embassy.  

Since August 11, 2022, natural gas imports fell from 55% to zero, whereas oil imports dropped from 40% to under 20%.

Germany also has 350,000 'green energy' jobs, according to Morgan, accounting for over 50% of all energy jobs in the country.

"Renewables and efficiency have been the main response after we phased out all of our import of Russian fossil fuels," she said.

"Renewable energy increased by 50%, which means about 510GW in one year," added Faith Birol, Executive Director of the IEA. "About two-thirds [of the ‘green’ power generation] came from solar, but also wind and other [sources]," he said.

Green energy executive Catherine MacGregor applauded Germany for embracing 'green energy' projects.

"Renewable energy consumption was up 52% in Germany last year," she said. "The energy transition is underway."

MacGregor and Birol both contend the UN Climate Summit COP28 propelled the 'just transition' forward.

COP28 delegates last December reiterated their pledge to reach carbon neutrality by 2050.

John F. Kerry, America's first Special Presidential Envoy to the Climate, praised COP28 for delivering a "profound paradigm shift" that advocate reaching 'net-zero' by 2050.

In Dubai, 195 countries, including oil-producing countries, came to a consensus that we must save the world and transition away from fossil fuels.

Kerry considers the UN Summit crucial amid efforts to "accelerate" the phase-out of fossil fuels "this decade."

But experts have raised concerns about record-breaking carbon emissions at COP28 due to the unprecedented number of participants flying into Dubai.

Approximately 400,000 visitors, including 97,000 official delegates, attended the climate summit — a significant increase from the 49,704 delegates at COP27 and 38,457 at COP26. 

Since 2019, attendance has nearly tripled. Glasgow (COP26) generated about 102,500 tons of carbon dioxide, equivalent to the annual emissions of 8,000 British citizens.

"There are five conditions for us to consider COP28 successful," claimed Birol, including a pledge by member states to triple their renewable capacity.

"Countries should also signal an orderly move from fossil fuels, and… provide financial support for the 'clean' energy transition in developing countries," he added.

Others included progress on methane reduction and doubling the rate of energy efficiency.

Alex Dhaliwal

Featured Stories

COMMENTS

Be the first to comment

Please check your e-mail for a link to activate your account.