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The high prices of fossil fuels due to the 2022 Russian invasion of Ukraine, however, have made renewable-energy sources more attractive, and a February 2023 analysis by The Economist found that the invasion had "fast-tracked the green transition by an astonishing five to ten years". [38]
In the future, international cooperation in sharing scarce resources will become increasingly important. Where scarcity is concentrated on the non-renewable resources that play the most important role in meeting needs, the most essential element for the realisation of human rights is an adequate and equitable allocation of scarcity.
The resource curse, also known as the paradox of plenty or the poverty paradox, is the hypothesis that countries with an abundance of natural resources (such as fossil fuels and certain minerals) have lower economic growth, lower rates of democracy, or poorer development outcomes than countries with fewer natural resources. [1]
A row has broken out at COP29 climate talks as leading countries said a draft deal risked going back on a historic agreement to reduce the use of planet-warming fossil fuels.
(The Center Square) — Large fossil fuel companies will be required to pony up money to New York state for damage caused by climate change under a bill signed by Gov. Kathy Hochul, but critics ...
The climate talks were also slowed by procedural maneuvers by Saudi Arabia – who objected to the inclusion of language that reaffirmed a previous commitment to transition away from fossil fuels.
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy.In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply national electricity grids or those used as fuel in industrial development.
While crude oil and natural gas are also being phased out in chemical processes (e.g. production of new building blocks for plastics) as the circular economy and biobased economy (e.g. bioplastics) are being developed [16] to reduce plastic pollution, the fossil fuel phase out specifically aims to end the burning of fossil fuels and the consequent production of greenhouse gases.