Biden Hosts Climate Meeting As Goals Vie With High Gas Costs

With both soaring energy prices and a warming planet weighing on the world at the Major Economies Forum on Energy and Climate, President Joe Biden talked about trying to ease the pain of high gas prices while pushing more long-term green policies.  The Russian invasion of Ukraine has scrambled Biden’s climate goals by driving up the cost of gas. Facing political pressure to get prices under control in a midterm election year, the Democratic president has urged U.S. oil refiners to produce more fuel even as companies say they lack the long-term incentives to do so because the administration is accelerating the move to clean energy. United Nations Secretary-General Antonio Guterres dismissed more drilling as a response, saying “nothing could be more clear or present than the danger of fossil fuel expansion.” “Had we invested earlier and massively in renewable energy, we would not find ourselves once again at the mercy of unstable fossil fuel markets,” Guterres said. “Let’s make sure the war in Ukraine is not used to increase that dependency.” In a statement, the American Petroleum Institute said governments and the industry need to work together: “Rising energy costs worldwide and current geopolitical tensions prove it is more important than ever to ensure continued access to affordable, reliable energy while reducing emissions.” 

Seth Borenstein and Chris Megerian. Associated Press/Kansas City Star. June 18, 2022.

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