Decarbonization Myth Frays as Hydrocarbon Use Grows
*** Asian nations are not renouncing fossil fuels but rather grabbing every energy source as would hoarders before an expected crisis.
Speaking at the Heartland International Conference in 2023, I dubbed this the “twin strategy” – a clever diplomatic pas de deux – where Beijing and Delhi strike photogenic “green” poses for the Western press while quietly constructing new coal-fired plants and excavating and importing ever more fuel for them.
*** Climate doomsayers must advance a narrative of Asian complicity in the increasingly fraying “green” agenda to help keep alive the myth of a decarbonizing world, which for most sensible people has become about as believable as the Easter Bunny.
India’s target for achieving net zero is set for a distant 2070 – 100 years after the first Earth Day, whose observance by then will be about as relevant as tossing virgins into volcanoes. More lasting will be the country’s commitment to economic growth through the use of coal, oil and natural gas – a path to having the highest rate of increase in energy demand going forward.
The case is similar in dozens of other countries across Asia, Latin America, the Middle East and Africa, where new discoveries of energy reserves and an appetite for economic progress have the oil and gas industries booming.
... Approximately 120 oil and gas discoveries were made globally in 2024, with significant drilling expected in Suriname, Cyprus, Libya and South Africa. About 85% of these discoveries occurred in offshore regions, the bigger ones being in Kuwait and Namibia
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Rystad Energy predicts deepwater drilling to hit a 12-year high in 2026. Once the poster child of climate repentance, the British multinational oil and gas company BP is abandoning plans to reduce production in favor of drilling deeper in the Gulf of Mexico. Norway’s Equinor announced early this year that “renewables” would take a back seat, as the country’s offshore oil fields roar back to life. ...
First published at BizPac Review on June 20, 2025.
