The first big energy shock of the green era
There are grave problems with the transition to clean energy power
NEXT MONTH world leaders will gather at the COP26 summit, saying they mean to set a course for net global carbon emissions to reach zero by 2050. As they prepare to pledge their part in this 30-year endeavour, the first big energy scare of the green era is unfolding before their eyes. Since May the price of a basket of oil, coal and gas has soared by 95%. Britain, the host of the summit, has turned its coal-fired power stations back on, American petrol prices have hit $3 a gallon, blackouts have engulfed China and India, and Vladimir Putin has just reminded Europe that its supply of fuel relies on Russian goodwill.
This article appeared in the Leaders section of the print edition under the headline “The energy shock”
From the October 16th 2021 edition
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