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How the ongoing Russia-Ukraine war affects Nigeria’s subsidy and energy prices

On February 24th, 2022, Russia launched a wide range of attacks on Ukraine. The invasion has left the European Union desperately searching for alternative energy sources to replace Russia’s fossil fuels. As a result, the invasion has also led to global fluctuations in crude oil prices, which directly impact fuel prices, so the higher crude oil prices are, the higher gas prices are likely to be. Samuel Ajala takes a closer look on how these circumstances affect Nigeria.

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The Caribbean’s energy conundrum

Small island states tend to face a double challenge when it comes to energy: Securing sufficient energy supplies and dealing with the immediate impacts of climate change. The Caribbean – comprised of 31 individual island states – is facing the brunt of energy and climate insecurity. As the region suffers a Covid-induced economic slump in its all-important tourism industry, it is also witnessing increasing extreme weather events, rising sea levels and extremely high electricity and energy prices. The latter three phenomena have been around for years, so why has the Caribbean not adapted a more sustainable energy policy? Rebecca Bertram has the Details.

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Recount: New tool shows how much clean energy EU could build instead of buying more Russian blood oil

Despite uniting in opposition to the Russian government’s brutal February invasion of Ukraine, in the days since, EU nations have still spent some 60 billion euros in imported Russian coal, oil, and fossil gas according to estimates by the Centre for Research on Energy and Clean Air (CREA). While governments scramble to find alternative sources of fossil fuels – sending prices and profits soaring, they continue pouring ever more money into the Kremlin’s war machine. As lead blogger and podcaster Michael Buchsbaum reviews, the surest way to reduce Russia’s military might is to ramp up investments in renewables. A newly released tool by the NGO Europe Beyond Coal dramatically illustrates the bloody tradeoff European leaders keep sadly making.

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Russia’s invasion is hampering Africa’s energy transition and decarbonisation

As war rages in Ukraine and links between energy and economic growth become clearer while the global impetus for transitioning to renewable energy looses pace mostly in developing countries. But this outcome could be avoided in the future if promised rapid investments on renewable energy become real. Meanwhile, we are experiencing unusual climatic impacts, such as persistent droughts, heat waves and heavy rainfall, and these extreme weather events are increasing and getting worse each season. As Russia’s invasion continues to cause disruptions, including rise to energy prices and reduce the quantity of oil and gas in the global market, it becomes clear that a transition to renewable energy is the only real solution to such disruptions and economic growth. Crucially, the war poses strong challenges to decarbonising developing countries’ economies.

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Green hydrogen as a substitute to Russian gas – could Latin America be an energy partner to Europe?

Russia’s aggressive war in Ukraine means Europe has to look elsewhere to secure its energy supplies. Green hydrogen could be an important new fuel, and here Latin America has the potential to become the next energy partner to Europe. The ongoing trade talks for a EU-Mercosur free trade agreement can provide a space for such negotiations. Rebecca Bertram has the details.

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How treaties protecting fossil fuel investors could jeopardize global efforts to save the climate – and cost countries billions

Fossil fuel companies have access to an obscure legal tool that could jeopardize worldwide efforts to protect the climate, and they’re starting to use it. The result could cost countries that press ahead with those efforts billions of dollars. Rachel Thrasher, Blake Alexander Simmons and Dr. Kyla Tienhaara discuss the issue. This article was originally published in The Conversation. 

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