Today, the global consensus is that the world is in a climate crisis. Consequently, the world needs to transition from fossil fuels to renewable energy sources. Burning of fossil fuels has been confirmed to have largely contributed to global warming and climate change. The world agreed and pledged that emission from fossil fuels had to be reduced and that renewable and clean energy resources shall be promoted as replacement.
Following the Russian invasion of Ukraine, a visible shift emerged from the horizon. The war triggered a global energy crisis and appeared to have shifted the world’s attention from emphasis on renewable energy sources again towards fossil fuels in the name of energy security. The Russian war has thrown up new challenges leading to green energy policies and plans reversals, albeit temporarily.
British Petroleum’s new direction is another case in point. Its Energy Outlook 2023 just published, warned that both governments and industries are behind their targets to reach net zero, and without continued investment in the oil and gas sector over the next three decades, the world faces increased risks of energy price swings and shortages.
I hold the view that we in Nigeria must continue to develop our oil resources because we need the revenues just as the IOCs cited above are doing. We need to utilize our long standing skills and existing infrastructure which include multi-billion dollar investments in flow stations, compressor stations, pipelines and crude oil export terminals, yet we must grow renewable energy sources in sufficient scale to face the realities of the long-term danger of climate change.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Viva Technology and the International Finance Corporation (IFC) are delighted to announce the launch of the second edition of the AfricaTech Awards.  | The Guardian Nigeria News - Nigeria and World NewsPARIS, France, 27 February 2023 -/African Media Agency (AMA)/- Viva Technology and the International Finance Corporation (IFC) are delighted to announce the launch of the second edition of the AfricaTech Awards. This initiative aims to recognize and support Africa-focused companies with innovative tech solutions addressing key development challenges linked to climate change, health care, and financial inclusion. […]
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: MobilePunch - 🏆 8. / 63 Read more »