Suncor Energy Inc T.SU

COP27 Climate Summit

[Donwaan]

India is leading a push for the COP27 climate summit to conclude with a decision on phasing down all fossil fuels, a move that would expand the focus from just coal, but is likely to raise strong concerns from oil and gas-reliant countries. The push stems largely from the coal-dependent countrys desire to not be singled out for its dependence on the dirty fossil fuel. There could also be text on the need to double the amount of adaptation finance and wording on the key issue at this years summit: loss and damage, financial help for developing countries from rich nations responsible for the biggest share of emissions.

[marketsense]

On 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

[Donwaan]

Or energy prices could be allowed to rise which would reduce consumption and CO2 emissions. Windfall profit taxes could be directed to poorer countries as is suggested by the UN to subsidize their energy costs. Less money for execs and shareholders but a win for climate change and wealth inequality. Once global warming has it's Pearl Harbour moment it will galvanize the world's attention

[autofocus111]

And so concludes COPOUT27.