The Ukraine war has upended the energy transition - and it’s not good news for the planet
Author: Sam Meredith
Reflecting on energy markets just over one month into Russia’s onslaught in Ukraine, Saudi Arabia’s top energy official said: “Look at what is happening today, who is talking about climate change now?” Prince Abdulaziz bin Salman’s comments in late March were effectively a rerun of his address to attendees at the COP26 climate conference in Glasgow, Scotland, in November last year when he claimed the world could slash greenhouse gas emissions without swearing off hydrocarbons. Summarizing his views on energy security and the climate crisis, Abdulaziz told CNBC that the world’s top oil expor would not shy away from fossil fuel production. “We are pro producing oil and gas, and - hallelujah - pro using coal.” Wildfires in Siberia last month were found to be more than twice the size when compared to the same period in 2021, environmental group Greenpeace told CNBC, citing satellite data. In what is becoming an annual occurrence of climate breakdown, the burning of trees in Siberia unlocks extreme carbon pollution while melting methane-rich permafrost.