Industry

Will countries keep buying oil and gas? Clean energy reshapes national cost-benefit calculations

A climate “free-riding” strategy of leaving carbon cuts to other countries while continuing to use fossil fuels could increase economic losses for some countries, an analysis said. Fuel-importing nations may face longer exposure to import costs and price volatility by delaying the energy transition. Falling solar, wind and battery prices are changing national cost-benefit calculations, while electrification options such as electric vehicles and heat pumps have expanded.

Industry

Electrification shifts energy security from oil to solar and batteries

As electrification technologies such as solar power and electric vehicles spread, the yardstick for global energy security is changing, an analysis said. The focus is shifting from stable imports of fossil fuels such as oil and natural gas to securing generation equipment and power grids and diversifying supply chains. Energy strategist Michael Barnard said electrification is reshaping energy dependence among countries, with examples cited from Pakistan, Europe and Africa.