OPEC's COP28 Actions: Panic, Charm, and Energy Transition

Germany's climate envoy, Jennifer Morgan, describes the resistance from oil-exporting countries, particularly Saudi Arabia, against a COP28 deal to end fossil fuel use as a sign of panic and an admission that these climate talks pose an existential threat to the oil industry's business model. The push to phase out fossil fuels has become a contentious issue at COP28, with Saudi Arabia and the Arab group of negotiators resisting language that calls for a phaseout. As the talks near their end, officials are working to find consensus on language that can get support from the nearly 200 participating countries.