UNITED KINGDOMAlok Sharma, the UK minister presiding over the global climate talks in Scotland who requested the IEA publish its Net Zero report, stopped short of committing to the fossil fuel ban. Norway has offered tax breaks as an incentive for new higher-cost oil projects and is preparing new licenses for offshore exploration. “We need to get out of oil, gas, and coal. And I feel very supported in this by the IEA’s recent net zero report. OPECOil producer club OPEC said the IEA’s recommendations on curbing fossil fuel emissions could lead to oil-price volatility if it is acted on.

Source: The North Africa Journal May 25, 2021 03:00 UTC