‘Faster and cheaper than we dared think possible’: Why a global leader in the energy transition is still feeling optimisticAn authoritative figure on the global shift toward a low-carbon economy will arrive at a Canadian climate-policy summit this week with a message that momentum is much stronger than it might appear, at a moment of turbulence, an international coalition of senior executives and policy leaders aiming for a net-zero emissions economy by mid-century – has had a unique window...
“Broadly speaking, countries which are high-cost producers of oil and gas have to be relatively disadvantaged in this transition,” he said. “I think one’s got to be honest.
He contends, however, that despite U.S. policy having encouraged other countries to spend more to keep up, much of the world would now continue apace because of the unstoppable economics. He’s also a believer in carbon taxes, not as the be-all and end-all of climate policy, but to provide value certainty for low-carbon investments. That’s particularly the case with pricing for heavy industry, which he was encouraged to learn may survive in Canada even if the consumer-facing fuel charge is eliminated by a future government.