The USA regards oil and gas as central to its lifestyle and to its economic and military strength. China seeks to dominate the battery car and renewable energy markets but is busy buying up cheaper Russian gas and increasing its use of coal. It doubtless regards the EU and UK as stupid to be buying its green products made using fossil fuels to shift the use of the fuels from their economies to China’s. China has avoided firm targets to get its own CO 2 down and has spent the first decade since the Paris Treaty to cut CO 2 putting its own up.
Russia pays for its war of expansion by selling oil and gas discounted to countries willing to ignore western sanctions. India plans to grow fast buying more oil, gas and coal from any good value source. OPEC still earn a good living from fossil fuels.
Western consumers including Europeans remain wedded to gas and solid fuel heating given the high costs of electricity and in most countries battery cars are a minority taste. Most forecasters expect the world to be needing 100 m barrels of oil a day in ten years time alongside at least as much gas as is burned today.
Europe and the UK government do not wish to accept this reality. As a result they are becoming more dependent on expensive renewables, needing back up ways of providing power for all the times when the wind does not blow and the sun does not shine. There was a good reason the Uk grew richer by dumping windmills and changing to coal based steam power.
Europe and the UK by backing extreme net zero policies and over regulating digital business are putting themselves into the slow lane whilst the US and China leap ahead. Worse still the EU approach will increase world CO 2 whilst damaging themselves by denying themselves cheaper fossil fuel energy. The US grasps the need for both more electricity and more fossil fuel as the digital cloud needs huge quantities of power for its revolution.