Dubai Telegraph - US opposes 'dangerous' anti-fossil fuel policies at global summit

EUR -
AED 4.178425
AFN 72.81666
ALL 92.194529
AMD 413.599766
ANG 2.037005
AOA 1044.463357
ARS 1734.78838
AUD 1.620158
AWG 2.047967
AZN 1.945353
BAM 1.956719
BBD 2.291828
BDT 140.09705
BGN 1.915351
BHD 0.428905
BIF 3409.406656
BMD 1.13776
BND 1.454447
BOB 13.932729
BRL 5.920695
BSD 1.13791
BTN 109.154721
BWP 15.557514
BYN 3.44437
BYR 22300.086814
BZD 2.288405
CAD 1.611867
CDF 2662.357254
CHF 0.946314
CLF 0.027923
CLP 1102.682485
CNY 7.638064
CNH 7.638588
COP 3764.470828
CRC 516.776853
CUC 1.13776
CUP 27.30903
CVE 110.318768
CZK 24.395038
DJF 202.617863
DKK 7.475092
DOP 67.744804
DZD 152.282248
EGP 59.260549
ERN 17.066393
ETB 185.423058
FJD 2.545962
FKP 0.858799
GBP 0.857888
GEL 2.975222
GGP 0.858799
GHS 13.238394
GIP 0.858799
GMD 83.626005
GNF 10006.789246
GTQ 8.690159
GYD 238.084994
HKD 8.925524
HNL 30.544619
HRK 7.53868
HTG 148.916507
HUF 367.191429
IDR 20492.186919
ILS 3.485458
IMP 0.858799
INR 109.154431
IQD 1490.513359
IRR 1564234.471704
ISK 136.975326
JEP 0.858799
JMD 180.124624
JOD 0.806614
JPY 178.51904
KES 147.569886
KGS 99.495362
KHR 4618.230579
KMF 492.650043
KPW 1023.98394
KRW 1544.684891
KWD 0.351396
KYD 0.948258
KZT 500.379481
LAK 25530.331003
LBP 101893.313885
LKR 376.623562
LRD 195.704524
LSL 18.698049
LTL 3.359508
LVL 0.688219
LYD 7.278547
MAD 10.957441
MDL 20.116716
MGA 4991.410823
MKD 61.59894
MMK 2389.107877
MNT 4091.464196
MOP 9.194041
MRU 45.581815
MUR 54.00907
MVR 17.578419
MWK 1973.052973
MXN 20.213425
MYR 4.644787
MZN 72.714316
NAD 18.698049
NGN 1511.217335
NIO 41.870039
NOK 10.813585
NPR 174.652729
NZD 2.007036
OMR 0.437458
PAB 1.13785
PEN 3.866486
PGK 5.147509
PHP 71.044555
PKR 315.267558
PLN 4.372683
PYG 6683.139809
QAR 4.147449
RON 5.277842
RSD 117.523774
RUB 96.159383
RWF 1680.011436
SAR 4.273326
SBD 9.102659
SCR 15.709784
SDG 684.36749
SEK 11.319922
SGD 1.453783
SHP 0.859011
SLE 28.04559
SLL 23858.239254
SOS 650.348411
SRD 42.856556
STD 23549.325171
STN 24.513132
SVC 9.955765
SYP 14793.149715
SZL 18.693357
THB 38.192287
TJS 10.49657
TMT 3.993536
TND 3.369483
TOP 2.739452
TRY 55.73019
TTD 7.722832
TWD 36.141497
TZS 3015.06047
UAH 51.059088
UGX 4454.170913
USD 1.13776
UYU 45.612231
UZS 13443.552238
VES 969.862007
VND 29552.734946
VUV 134.029322
WST 3.123967
XAF 655.957
XAG 0.01847
XAU 0.000273247002
XCD 3.074852
XCG 2.050681
XDR 0.804455
XOF 655.957
XPF 119.331742
YER 269.25065
ZAR 18.652327
ZMK 10241.198729
ZMW 22.159703
ZWL 366.358105
SSP 6499.555885
MXV 2.289118
  • BCC

    1.0400

    77.14

    +1.35%

  • GSK

    -0.4100

    49.24

    -0.83%

  • CMSC

    -0.1100

    20.4

    -0.54%

  • AZN

    2.0200

    166.58

    +1.21%

  • CMSD

    -0.0700

    20.3

    -0.34%

  • BCE

    -0.3300

    20.97

    -1.57%

  • BTI

    -0.3900

    55.63

    -0.7%

  • RIO

    0.0900

    94.56

    +0.1%

  • BP

    -0.2600

    44.15

    -0.59%

  • JRI

    -0.1500

    11.02

    -1.36%

  • RBGPF

    -0.5900

    65.4

    -0.9%

  • RYCEF

    -0.3600

    19.31

    -1.86%

  • RELX

    0.0100

    33.52

    +0.03%

  • VOD

    0.1300

    16.62

    +0.78%

  • NGG

    0.2600

    75.49

    +0.34%

US opposes 'dangerous' anti-fossil fuel policies at global summit
US opposes 'dangerous' anti-fossil fuel policies at global summit / Photo: SAEED KHAN - AFP

US opposes 'dangerous' anti-fossil fuel policies at global summit

An international summit on the future of energy security opened in London on Thursday with stark opposition from Washington, which called policies to phase out fossil fuels "harmful and dangerous".

Text size:

Profound differences emerged at the two-day International Energy Agency (IEA) meeting over the role of renewables in satisfying the world's thirst for energy.

The meeting takes place amid global economic turmoil sparked by wars in Ukraine and the Middle East, and uncertainty surrounding US President Donald Trump's tariffs.

"Some want to regulate every form of energy besides the so-called renewables, completely out of existence... We oppose these harmful and dangerous policies. This is not energy security," Tommy Joyce, US Acting Assistant Secretary of Energy for International Affairs, told the conference.

That contrasted to a more moderate message from IEA executive director Fatih Birol in opening remarks at the summit, co-hosted by the UK.

"Every economy has its own pathway for energy. We should understand and respect it," he said.

He added also that "oil and gas are key parts of our energy mix, and they will remain as part of the energy mix in years to come."

Birol's comments depart from the IEA's own forecast in 2023 that fossil fuel demand would peak before 2030.

Meanwhile, British Energy Secretary Ed Miliband welcomed "low carbon energy" as playing "a critical role in delivering energy security."

"As long as energy can be weaponised against us, our countries and our citizens are vulnerable and exposed," he added.

Several energy ministers from European countries attended the gathering, including 120 senior government officials, business leaders, and experts.

The United States is only represented by acting deputy secretaries of state, while China, Saudi Arabia and Russia are skipping the event altogether.

European Commission President Ursula von der Leyen was set to later detail Europe's efforts to promote affordable and sustainable energy.

- Renewable energy disagreements -

The Organization of the Petroleum Exporting Countries (OPEC) has welcomed the meeting.

"The overall theme is one that OPEC supports. It is positive to see the IEA refocusing on energy security after veering away from this fundamental goal," the group said on Wednesday.

"Many net zero policies have endorsed unrealistic timelines or had little regard for energy security, affordability or feasibility," said OPEC, which has previously described the phasing out of fossil fuels as a "fantasy".

OPEC, whose membership is dominated by oil-producing Gulf states, believes that energy security must be achieved by adding renewable energy sources to existing fossil fuels, not by replacing them.

European countries believe, however, that nuclear energy and renewables are the best way to avoid dependence on imported oil and gas, the prices of which have been increasingly volatile since Russia's 2022 invasion of Ukraine.

In the United States, Trump has repeatedly stated that he wants to lower energy prices with a "drill baby drill" approach in oil and gas fields, while limiting the development of wind power projects.

The French Energy Ministry noted that the mission of the IEA, which was established in 1974 in response to the first oil crisis, remains "to promote the energy transition as a tool for energy sovereignty."

It said "there is no stated American agenda for this meeting, and no European concern about a deviation from the agenda."

But according to a source at a major European energy company, the IEA and Birol have moderated their rhetoric toward renewables in recent months.

The idea is to "avoid antagonising the Trump administration and to calm things down a little with OPEC", this source said, speaking on condition of anonymity.

K.Javed--DT