While governments around the world have tried to coordinate their efforts to rein in the emissions causing climate change, critics rightfully argue that the targets they have agreed to are too modest. But structural obstacles to the kind of cooperation needed to address the problem make it unlikely that a solution will be reached.
European Union officials are putting on a brave face as the bloc approves a plan to ration natural gas this winter to avoid an energy crisis should Russia make additional cuts to its exports. But the discussions leading up to the plan’s approval revealed cracks in their public display of solidarity.
Lately, energy companies have been acting as if U.S. sanctions on Venezuela’s oil industry are likely to end soon. Last month, two U.S. investment firms—Gramercy Funds Management and Atmos Global Energy—formed a joint venture with the Venezuela-based Inelectra Group to engage in oil and gas exploration. The ownership of Citgo’s refineries in the country were a key point of contention for several years between Venezuelan President Nicolas Maduro and his opposition, but the U.S. oil giant’s management has nevertheless said it would accept crude exported from Venezuela if sanctions are indeed lifted. Their apparent belief that sanctions will be lifted is a […]
Gabon has long flaunted its green credentials, enjoying a reputation as a leader in global efforts to combat climate change and environmental destruction. In June 2021, that image got another boost when Gabon became the first country in Africa to receive a payout for having reduced its carbon emissions. In disbursing the first payment of $17 million, the Central African Forest Initiative, on behalf of the Norwegian government, committed to providing Gabon’s government with $150 million in conservation financing over 10 years for lowering emissions from forest loss in 2016 and 2017, compared to baseline data from 2006 to 2015. […]
Over the past few years, the Southeast Asian state of Laos has positioned itself at the center of growing trade, economic and infrastructure integration in the Mekong subregion. Its ambitious plan envisioned its dams providing electricity for Laos’ more populous neighbors and its expanding web of roads and rails—whose development is funded extensively through debt, much of it to China—connecting the region’s rising economies. But that was before Laos’ economy crashed. Today, inflation is skyrocketing. Staple goods like cooking oil are becoming scarce. And the local currency is collapsing against the dollar. The country, whose credit rating was downgraded by Moody’s in […]
The pollution hanging over Mexico City is nearing its worst levels in decades, a direct result of Mexican President Andres Manuel Lopez Obrador’s energy policies. To make matters worse, those policies also conflict with the current geopolitical environment, global environmental standards and the country’s trade agreement with the United States. AMLO, as the Mexican president is known, is an energy nationalist. He believes that the oil and natural gas found both underground and offshore in Mexico should be explored, developed and refined by its state-owned energy company, Pemex, rather than foreign conglomerates, and that it should be sold directly to […]