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Breaking News:

Oil Net Short For First Time in History

UN Secretary-General Calls on World Leaders to Phase Out Oil and Gas

The secretary-general of the United Nations has called on world leaders to phase out oil and gas from their economies and stop new exploration in hydrocarbons.

Speaking in Tonga, during a meeting of Pacific Island leaders, Antonio Guterres said “This is a crazy situation: rising seas are a crisis entirely of humanity’s making. A crisis that will soon swell to an almost unimaginable scale, with no lifeboat to take us back to safety.”

The head of the United Nations also said “The reason is clear: greenhouse gases – overwhelmingly generated by burning fossil fuels – are cooking our planet. And the sea is taking the heat – literally.”

To avoid the apocalyptic catastrophe, Guterres urged world leaders to stop using oil, gas, and coal, and suspend further expansion in hydrocarbon exploration.

Guterres also issued a grim warning, saying that “Without drastic cuts to emissions, the Pacific Islands can expect at least 15 centimeters of additional sea level rise by mid-century, and more than 30 days per year of coastal flooding in some places.”

There have been predictions that places such as the Maldives would be completely underwater by now but so far these have failed to materialize. Nevertheless, Pacific Island nations are among the most vocal supporters of the global energy transition championed by the UN, arguing they are more exposed to the adverse effects of climate change because of changing sea levels.

In a call to the leaders of the G20, Guterres urged those countries to finance the transition as they can afford to shoulder a greater financial burden than poor Pacific Island nations and developing countries.

He also called on world leaders to finalize their so-called nationally determined contributions to the transition by next year, as agreed at the last conference of the parties last year.

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“And the world must massively increase finance and support for vulnerable countries. We need a surge in funds to deal with surging seas,” Guterres said.

By Irina Slav for Oilprice.com

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  • Mamdouh Salameh on August 27 2024 said:
    The call by the secretary-general of the United Nations Antonio Guterres to phase out oil and gas and stop new exploration in hydrocarbons is a rehash of the overwhelmingly rejected call by the IEA's Executive Director Fatih Birol in May 2021 to halt all investments in oil and gas by the end of the year or what the Saudi Energy Minister Prince Abdulaziz bib Salman mockingly dubbed as the La La Land 2050 roadmap.

    Calls of an apocalyptic catastrophe and existential threats to our planet have become common place among environmental activists and vested interests without proof and without anything happening to our planet.

    More than 30 years ago they predicted that places such as the Maldives would be completely underwater by now but so far these have failed to materialize.

    Oil and gas are projected to continue driving the global economy well into the future.

    Therefore, the only sensible and workable global energy strategy is for fossil fuels and renewables to co-exist and work diligently together to satisfy global energy needs. The higher the share of renewables in global electricity generation, the less gas, coal and even nuclear energy needed.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

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