The Prague Post - US opposes 'dangerous' anti-fossil fuel policies at global summit

EUR -
AED 4.306924
AFN 77.800612
ALL 96.290273
AMD 447.455848
ANG 2.099694
AOA 1075.411417
ARS 1700.779101
AUD 1.772061
AWG 2.110949
AZN 1.988177
BAM 1.952553
BBD 2.365276
BDT 143.51133
BGN 1.955558
BHD 0.44213
BIF 3482.009164
BMD 1.17275
BND 1.514082
BOB 8.114505
BRL 6.462082
BSD 1.174352
BTN 106.720516
BWP 15.510205
BYN 3.441491
BYR 22985.892779
BZD 2.361882
CAD 1.615644
CDF 2638.686581
CHF 0.934332
CLF 0.027329
CLP 1072.104138
CNY 8.258444
CNH 8.255383
COP 4504.50788
CRC 586.025397
CUC 1.17275
CUP 31.077865
CVE 110.081926
CZK 24.301712
DJF 209.123105
DKK 7.471107
DOP 75.454514
DZD 151.827002
EGP 55.592317
ERN 17.591244
ETB 182.304714
FJD 2.673278
FKP 0.876507
GBP 0.876073
GEL 3.160551
GGP 0.876507
GHS 13.505539
GIP 0.876507
GMD 86.199295
GNF 10212.016669
GTQ 8.993044
GYD 245.691397
HKD 9.122608
HNL 30.940544
HRK 7.53222
HTG 153.794229
HUF 385.778924
IDR 19582.573348
ILS 3.789201
IMP 0.876507
INR 105.893078
IQD 1538.448008
IRR 49399.146865
ISK 147.995144
JEP 0.876507
JMD 188.486533
JOD 0.831511
JPY 181.991394
KES 151.226201
KGS 102.55723
KHR 4702.179931
KMF 492.554939
KPW 1055.474962
KRW 1735.464253
KWD 0.359705
KYD 0.978677
KZT 605.335863
LAK 25442.795245
LBP 105164.352354
LKR 363.536961
LRD 207.864306
LSL 19.721186
LTL 3.462825
LVL 0.709385
LYD 6.362446
MAD 10.746727
MDL 19.776195
MGA 5305.177102
MKD 61.535274
MMK 2462.499847
MNT 4159.55763
MOP 9.41009
MRU 46.575541
MUR 54.005329
MVR 18.072469
MWK 2036.313462
MXN 21.065457
MYR 4.791838
MZN 74.950137
NAD 19.721186
NGN 1704.791285
NIO 43.218125
NOK 11.959003
NPR 170.753025
NZD 2.030505
OMR 0.450919
PAB 1.174347
PEN 3.955921
PGK 4.992697
PHP 68.680904
PKR 329.11566
PLN 4.216211
PYG 7887.915449
QAR 4.281779
RON 5.091849
RSD 117.371155
RUB 92.705885
RWF 1709.856384
SAR 4.398673
SBD 9.573626
SCR 16.573783
SDG 705.411284
SEK 10.921847
SGD 1.515386
SHP 0.879866
SLE 27.90959
SLL 24591.977696
SOS 671.183772
SRD 45.359637
STD 24273.549601
STN 24.459322
SVC 10.275954
SYP 12968.817782
SZL 19.704314
THB 36.88356
TJS 10.792352
TMT 4.116351
TND 3.429397
TOP 2.8237
TRY 50.099067
TTD 7.966785
TWD 37.020192
TZS 2899.859147
UAH 49.525635
UGX 4181.046614
USD 1.17275
UYU 45.943592
UZS 14239.318971
VES 320.446921
VND 30897.848168
VUV 142.444302
WST 3.259438
XAF 654.867907
XAG 0.017685
XAU 0.00027
XCD 3.169414
XCG 2.116489
XDR 0.814446
XOF 654.870694
XPF 119.331742
YER 279.524973
ZAR 19.649713
ZMK 10556.150373
ZMW 26.981243
ZWL 377.624903
  • SCS

    0.0200

    16.14

    +0.12%

  • JRI

    -0.0500

    13.51

    -0.37%

  • BCE

    -0.2800

    23.33

    -1.2%

  • CMSC

    0.0400

    23.34

    +0.17%

  • BCC

    0.5100

    75.84

    +0.67%

  • RIO

    0.1700

    75.99

    +0.22%

  • NGG

    -0.2600

    75.77

    -0.34%

  • CMSD

    0.0150

    23.38

    +0.06%

  • RBGPF

    0.4100

    82.01

    +0.5%

  • RYCEF

    -0.3100

    14.64

    -2.12%

  • GSK

    -0.4600

    48.78

    -0.94%

  • VOD

    0.0000

    12.7

    0%

  • BTI

    -0.4500

    57.29

    -0.79%

  • RELX

    -0.2600

    40.82

    -0.64%

  • AZN

    -0.2100

    91.35

    -0.23%

  • BP

    -1.4900

    33.76

    -4.41%

US opposes 'dangerous' anti-fossil fuel policies at global summit
US opposes 'dangerous' anti-fossil fuel policies at global summit / Photo: SAEED KHAN - AFP

US opposes 'dangerous' anti-fossil fuel policies at global summit

An international summit on the future of energy security opened in London on Thursday with stark opposition from Washington, which called policies to phase out fossil fuels "harmful and dangerous".

Text size:

Profound differences emerged at the two-day International Energy Agency (IEA) meeting over the role of renewables in satisfying the world's thirst for energy.

The meeting takes place amid global economic turmoil sparked by wars in Ukraine and the Middle East, and uncertainty surrounding US President Donald Trump's tariffs.

"Some want to regulate every form of energy besides the so-called renewables, completely out of existence... We oppose these harmful and dangerous policies. This is not energy security," Tommy Joyce, US Acting Assistant Secretary of Energy for International Affairs, told the conference.

That contrasted to a more moderate message from IEA executive director Fatih Birol in opening remarks at the summit, co-hosted by the UK.

"Every economy has its own pathway for energy. We should understand and respect it," he said.

He added also that "oil and gas are key parts of our energy mix, and they will remain as part of the energy mix in years to come."

Birol's comments depart from the IEA's own forecast in 2023 that fossil fuel demand would peak before 2030.

Meanwhile, British Energy Secretary Ed Miliband welcomed "low carbon energy" as playing "a critical role in delivering energy security."

"As long as energy can be weaponised against us, our countries and our citizens are vulnerable and exposed," he added.

Several energy ministers from European countries attended the gathering, including 120 senior government officials, business leaders, and experts.

The United States is only represented by acting deputy secretaries of state, while China, Saudi Arabia and Russia are skipping the event altogether.

European Commission President Ursula von der Leyen was set to later detail Europe's efforts to promote affordable and sustainable energy.

- Renewable energy disagreements -

The Organization of the Petroleum Exporting Countries (OPEC) has welcomed the meeting.

"The overall theme is one that OPEC supports. It is positive to see the IEA refocusing on energy security after veering away from this fundamental goal," the group said on Wednesday.

"Many net zero policies have endorsed unrealistic timelines or had little regard for energy security, affordability or feasibility," said OPEC, which has previously described the phasing out of fossil fuels as a "fantasy".

OPEC, whose membership is dominated by oil-producing Gulf states, believes that energy security must be achieved by adding renewable energy sources to existing fossil fuels, not by replacing them.

European countries believe, however, that nuclear energy and renewables are the best way to avoid dependence on imported oil and gas, the prices of which have been increasingly volatile since Russia's 2022 invasion of Ukraine.

In the United States, Trump has repeatedly stated that he wants to lower energy prices with a "drill baby drill" approach in oil and gas fields, while limiting the development of wind power projects.

The French Energy Ministry noted that the mission of the IEA, which was established in 1974 in response to the first oil crisis, remains "to promote the energy transition as a tool for energy sovereignty."

It said "there is no stated American agenda for this meeting, and no European concern about a deviation from the agenda."

But according to a source at a major European energy company, the IEA and Birol have moderated their rhetoric toward renewables in recent months.

The idea is to "avoid antagonising the Trump administration and to calm things down a little with OPEC", this source said, speaking on condition of anonymity.

F.Vit--TPP