Oil producers have always been an easy target at the United Nations’ annual climate summits. This year, with Russia’s war in Ukraine boosting demand for fossil fuels, they’re preparing to fight back.
As Western economies desperately seek alternatives to Vladimir Putin’s exports, many are working to increase supplies of energy — whether it's clean or not. U.S. President Joe Biden has ordered an unprecedented release of emergency crude, while Poland has signaled it wants to use coal past the European Union’s 2050 date to reach net-zero emissions. U.K. Prime Minister Boris Johnson traveled to Saudi Arabia to ask for an increase oil production.
United Arab Emirates Energy Minister Suhail Al-Mazrouei summed up the industry’s change in fortune at a conference in Dubai last month. “Oil producers felt unwanted in COP26, felt like we were in a corner,” he said. “Now, we're like superheroes.”
