Oil

COP27: African Governments Advocate for Fossil Fuel to Tackle Poverty

African nations have called for opportunity to be allowed to develop its resources in the continent to help lift Africans out of poverty.

The governments told the COP27 climate talks in Egypt, which also welcomed leaders of oil and gas companies sidelined at previous talks that oil resources in the continent benefit the people.

“There is a lot of oil and gas companies present at COP because Africa wants to send a message that we are going to develop all of our energy resources for the benefit of our people because our issue is energy poverty,” said Namibia’s petroleum commissioner, Maggy Shino, who works within the country’s Ministry of Mines and Energy.

Pressure to leave hydrocarbons in the ground has been weakened this year by the disruption following Russia’s invasion of Ukraine that led to a surge in energy prices and pushed inflation to multi-decade highs.

Even countries with binding commitments to switch to low carbon energy have found their priorities have shifted, at least in the short term and African nations see the potential for new export markets, as well as a chance to end domestic fuel poverty.

Echoing comment from other African nations, Shino said wealthy countries had failed to deliver promised funding that would help them to expand clean energy instead of exploiting their fossil fuel resources.

“If you are going to tell us to leave our resources in the ground, then you must be prepared to offer sufficient compensation, but I don’t think anyone has yet come out to make such an offer.”

Comment here