RE:COP27 Climate SummitOn this issue of the Third World being victimized by the wealthy countries and therefore having to resort to more coals usage, I would agree that its antithetical to climate change but I'm not sure if some kind of financial compensation is the answer. One must always be careful about handing out wads of cash without appropriate strings attached and secondly without an enforcement mechanism in place.
The odds are IMO, that poor nations will continue to burn coal as long as other
energy options remain expensive and use their compensation package for many
other purposes some of which will be to line the pockets of administration officials
governing those countries. Its another one of those feel good initiatives that
quickly get swallowed up in greed and corruption and in the end fail miserably.
The best way to help poorer nations is to increase supply and thereby lower the price
for everyone. It all comes back to the demand/supply equation. There is lots of supply
available and could be more if gov'ts simply got away from the anti fossil fuel narrative
and considering extra taxation on their profits. Stop trying to punish the industry, it is
counter productive and start encouraging supply. I think there is a middle ground to be
found between tight supply and a glut.