The Organisation of the Petroleum Exporting Countries OPEC says the delicate balance between reducing emissions, energy affordability and security requires comprehensive and sustainable policies.
The OPEC said that focusing on only one of these over the other could lead to unintended consequences; market distortions, heightened volatility and energy shortfalls.
OPEC Secretary- General Mohammad Barkindo, made this remark at the ongoing 2021 United Nations Climate Change Conference, known as COP26 holding in Glasgow, from October 31st to November 12th.
According to him, the science indicates that tackling emissions has many paths. Hence, no one-size-fits-all solution, for countries or industries.
Barkindo further noted that the narrative that the energy transition was from oil and other fossil fuels to renewables was misleading and potentially dangerous to a world that would continue to be thirsty for all energy sources.
