Vincent Boland: World risks global shock if net zero goal creates dangerous new divide

The International Energy Agency proposes the end of fossil fuel usage, but many of the world’s biggest oil-producing countries are also its poorest and most unstable, and least prepared for change

30th May, 2021
Vincent Boland: World risks global shock if net zero goal creates dangerous new divide
The power station in Boxberg, Germany, which is to be switched off in 2038 as part of the German coal phase-out. Picture: Florian Gaertner/Photothek

In 1974, as the western world reeled from what came to be called the “first oil shock”, officials from a group of countries (including Ireland) gathered in Paris to decide how to respond. The shock was sparked the previous year when oil-producing Arab nations retaliated against western support for Israel in the Yom Kippur War by enforcing an oil embargo, hiking the price from $3 to $12 a barrel, and tumbling the West’s economy into...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Vincent Boland: Tycoon space race is boldly going where many have gone before

Vincent Boland: Biden wants to be heard on attempt to make America competitive again

Vincent Boland: Global private equity is on a spending spree in Discount Britain

Vincent Boland: In the World v Zuckerberg, the final verdict is still to be delivered