We all predicted the outcome of the COP28 summit in Dubai: the semblance of a deal papering over deep differences. This, after all, was the result of previous COP summits. Carole Nakhle, founder and CEO of Crystol Energy, a global energy research group, argues that “countries have not delivered on the promises they made at COP27”. There is also a difference of perspective between the developing and the developed world. “There is a lack of consistency... from rich countries preaching on the need for a switch to renewables, yet asking for more hydrocarbon production”, especially when 45% of people worldwide do not have access to reliable electricity.
In addition, “the subsidies for green energy in rich countries is negative for developing countries that cannot afford them and thereby suffer
