The World Economic Forum (WEF) in Davos, Switzerland recently hosted a global forum composed of both international dignitaries and world business leaders. The most notable of the forums centered around the current global energy crisis, with prices for gas and oil becoming incredibly volatile in the few months following Russia’s invasion of Ukraine. Of course, these price increases stem from several interlinked global crises besides the Russia-Ukraine war, including the Covid-19 pandemic, rising inflation, and several major supply chain disruptions. All of the above have heightened the urgency to lean away from fossil fuels and invest into greener initiatives. A discussion with a panel of experts and business leaders at the WEF moderated by CNBC’s Steve Sedgwick spurred a lively debate about whether current fossil fuels should still serve as transitional, backup sources of energy—or that the global economy would be smarter to transition away from fossil fuels altogether as soon as possible. An article published by CNBC reports on the various viewpoints from this discussion.
To read the article, click here.