Money, lobbyists, inertia: Why fossil fuels are so hard to quit in a world built on oil
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Despite global agreements to transition away from fossil fuels, progress has been slow due to economic dependence, lack of political will, and powerful lobbying interests. The world remains heavily reliant on oil, with some countries' economies entirely dependent on it.
The international community agreed to transition away from fossil fuels at COP28, but little progress has been made. The world remains heavily reliant on oil, with the Middle East war highlighting the global economy's dependence on 'black gold'. The US, with its 'drill, baby, drill' energy policy under Donald Trump, has intervened in countries with vast crude reserves. Economies like Iraq, Kuwait, and Saudi Arabia are entirely dependent on oil, making a transition challenging. Powerful lobbyists, such as those from the oil and gas sector, have delayed changes for 30 years. Financial support is needed for both wealthy oil-producing countries and poorer countries dependent on oil imports to facilitate a transition. Some progress has been made, with renewable energy sources accounting for nearly half of global electricity capacity in 2025, driven by countries like China.
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