More than 100 countries supporting the final decision at COP28 call for a phase-out of fossil fuels. This has led to fear among the 13 OPEC members, who own 80% of global oil reserves. Multiple sources confirm the leaked letters, suggesting the depth of OPEC’s concern that COP28 could mark a turning point against oil and gas, potentially putting their people’s prosperity and future at risk. “One thing to always be remembered is that we cannot negotiate with nature, but we can with each other. The COP presidency cannot create results on their own; all parties need to engage,” said … Continue reading Oil vs. Climate Ambitions: Inside the Tense Showdown at COP28