![]() At the same time, almost a billion people globally have no access to electricity at all, and 2.5 billion people cook food on an open fire. In developed Europe this figure is 75 percent. ![]() "Now 85 percent of the world energy balance is covered by hydrocarbons. On the other hand, for many countries, renewable energy projects require rather large investments, but now, this is problematic in the context of the global crisis. Quarantine restrictions significantly affected fuel demand, respectively, it also affected the plans of mining companies and countries, as well as the pace of transition to alternative energy. As the coronavirus pandemic has shown, the situation in the world and the economy can change in a matter of days. However, experts urge not to dramatize the situation.įirst, the fact that this will happen in the coming years is, of course, exaggerated. In this regard, the fears of countries where revenues from oil and gas exports dominate the state budget regarding the negative impact of ‘green’ policies on economic stability are understandable. Growing concerns about environmental pollution and climate change promote the electoral support of the 'green' parties and their leaders.Īs the calculations of the experts from the British analytical center Carbon Tracker show, by 2040, the energy transition, which implies the rapid development of ‘green’ energy, will deprive the oil-producing states of $13 trillion. In other words, environmental safety has become a vital issue on the political agenda in the West. The experience of achieving the set goals in the EU is expected to stimulate other regions and states to follow this example for the benefit of future generations, including as part of the UN Sustainable Development Goals (SDGs) program adopted in 2010. The plans are to optimize the use of resources and reduce wastes. The roadmap assumes the transition of all parts of the economy - production, sales, and consumption - to 'green' economy. Moreover, the most significant correction of the EU’s history’s economic course is designated precisely as the ‘Green Deal - 2050.’ It is a voluminous document, adopted on December 11, 2019, which lays out the EU’s path towards climate neutrality and a radical reduction in pollution levels by 2050. The ‘green economy’ is popularized even more widely in Europe: by the end of 2020, alternative energy in Europe for the first time overtook generation conventional energy using fossil fuels, reads a report of the British think tank Ember and the German Agora Energiewende. On the other hand, Biden took this area seriously, planning to tighten control over its production technologies. Although experts also point out that stricter regulation of the shale industry may in the coming years become an additional advantage for the OPEC+ countries and Azerbaijan as well - we already know how the growth of shale oil production in the US negatively affects the world market. Moreover, experts fear that they will affect the price market in the short term. However, all these plans harm the economies of oil and gas producing countries. ![]() His $2 trillion plan includes investments in carbon capture and storage technologies, electric vehicles’ production, and hydrogen energy. Biden’s global goal is to achieve zero emissions in the electricity sector by 2035. Moreover, the new US government is going to provide subsidies to buyers of electric vehicles. As is known, the plans of the new US president include the construction of new nuclear power plants and the development of the electric transport market. In one of his first decrees, new President Joe Biden initiated the US’s return to the Paris Climate Agreement. However, the victory of Joe Biden in the US presidential election, actively and even aggressively lobbying for the ‘green’ economy, began to give the issue a political color. It seems that everything is logical and justified both ecologically (oil and gas production, with all levels of precaution still cause considerable harm to the environment) and economically (extraction and export-import of traditional fuel cost countries a significant amount of money). ![]() The topic of ‘green energy’ and the development of renewable energy sources (RES) is one of the most fashionable in recent years. ![]()
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