OPEC Attempts to Influence Possible COP28’s Fossil Fuels Phase-Out Deal

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The Organization of the Petroleum Exporting Countries (OPEC) is urging its members and other oil-producing allies to reject any proposed deals to phase out fossil fuels at the United Nations’ Climate Change Conference COP28 climate summit. Producers should “proactively reject any text or formula that targets energy” in the form of “fossil fuels rather than emissions,” Secretary-General Haitham Al-Ghais said in a letter dated December 6 to OPEC’s 13 members, including COP28 host the UAE. “It seems that the undue and disproportionate pressure against fossil fuels may reach a tipping point with irreversible consequences, as the draft decision still contains options on fossil fuels phase out,” Al Ghais said in the letter, “It would be unacceptable that politically motivated campaigns put our people’s prosperity and future at risk,” he continued. OPEC countries, which include Saudi Arabia, Iran, and Iraq, own 80 percent of global oil reserves and produced about 40 percent of the world’s oil over the last decade. “We are deeply outraged by OPEC’s desperate and self-serving call for its members to reject any action at COP28 against fossil fuels. This deliberate attempt by the oil and gas industry…

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The post OPEC Attempts to Influence Possible COP28’s Fossil Fuels Phase-Out Deal first appeared on Egyptian Streets.

Source: egyptianstreets