Want to slow climate change and help poor nations? This energy option is a must

Prices at the pump are lower than a year ago, thanks to a reduction in global energy demand. With cold winter weather on the way and holiday travel surging, prices may rise again.

However, temporary fluctuations in prices should not distract from fundamental issues in the energy industry as the world moves towards renewables. Climate change is a worldwide problem. But not every country has the resources and infrastructure to address these issues quickly.

A rapid transition from coal and oil to renewables, such as solar and wind, is not possible, nor reasonable, especially in developing nations. That’s why natural gas should be promoted as a transitional fuel.

The U.S. has been moving from coal to natural gas for decades. Such transitions don’t happen overnight — not in Texas, in the rest of the U.S. or around the world.

This initiative was promoted at the recent 27th Conference of the Parties to the United Nations Framework Convention on Climate Change in Egypt. Delegates argued that natural gas is the most realistic solution towards a lower carbon world. It’s unrealistic to pursue net-zero emissions — achieving a balance between the greenhouse gasses put into the atmosphere and those taken out — with only renewable energy. It would stifle economic progress in the countries that need it the most.

In Africa, for example, a transition plan is needed because the lack of electricity is stunting progress out of poverty and prosperity. Natural gas emits about half as much carbon as coal in power-generation applications. Many countries, particularly those inAfrica with large gas reserves to exploit, want to build new natural gas plants rather than burning more coal.

Governments and energy companies should invest and build renewables at a rapid pace. Energy transitions are slow and complicated, and they cannot be scaled up quickly. While that planning is done, there needs to be a base load fuel until the 2050 goals are met. Natural gas is the most viable alternative, used alongside solar, wind and other means.

The developed world is not in any rush to fund these projects in Africa and other emerging markets, but it should be. Many see our energy future as black or white: either it’s “100 percent renewable energy, now” or it’s “Drill Baby, Drill.” This is insufficient for developing countries.

Natural gas should be considered part of a green energy future. Some energy experts believe that further investment in “transition fuels,” including natural gas, will impede progress toward an economy that runs entirely on renewables.

The International Energy Forum, composed of representatives from 71 countries, notes that “the versatility of natural gas is one key to its expected prominent role in the energy transition, serving as an energy source for all sectors including heating, cooking and industrial applications.”

The forum further observes that in combating climate change, “natural gas has a significant advantage over coal, emitting about half the CO2” and can stabilize the transition to renewable energy.

Capital invested in natural gas power facilities may earn a better return on investment in the short term. That could prompt companies to use them for their full lifetimes, which could delay the switch to renewables. However, less initial capital is required than solar and wind development, a critical factor for most developing nations to have reliable, affordable and accessible energy.

How can wealthy nations argue that countries such as Senegal and South Africa are blocking progress by demanding natural gas be considered as part of their green-energy future?

A lot of if/then scenarios are stacking up against the happening-right-now reality of what can only be called a global energy crisis. The path to renewables has to include interim concessions. Even before Russia invaded Ukraine, soaring food and energy prices made affordable energy vital to the world’s economic growth.

Trade-offs are clearly being made between progress in tackling the climate crisis and ensuring reliable energy supplies. Germany is burning more coal this year than last, and the United Kingdom is delaying the closure of end-of-life coal plants. Two of the world’s most developed nations are regressing in their net-zero goals. These countries should not be allowed to deny investment capital to new energy investments in Africa or elsewhere.

If the goal is progress toward net-zero emissions, natural gas is the most realistic solution.

This story was originally published December 21, 2022 at 6:03 AM with the headline "Want to slow climate change and help poor nations? This energy option is a must."