Ending the climate emergency costs oil exporters money. The income of 40 oil countries could fall from 17 trillion dollars to 9 trillion between now and 2040 if emissions are reduced to limit global warming to 1.8 degrees.

As Miguel Aguado, environmental disseminator, explains, these states “have a business that comes in every day and also conditions geopolitics, which is not a minor issue.” Nevertheless, “Your business rhythm does not correspond to the rhythm of need of the planet”.

Venezuela would be the most affected because it is the one that depends the most on crude oil, but the largest exporter in the world also fights for its interests: “The US, which has a government right now that seems to be more sensitive to these issuesis gaining speed in continuing to use and safeguard its oil industry,” said the expert.

The big oil companies have been backtracking on their energy transition commitments. A fact that Greenpeace warns about, which assures that it will not be an easy path “because the interests of fossil companies are going to come first“.

To the previous COP, that of Egypt, 400 people related to the fossil fuel sector attended. Only two of the national delegations were larger. Even more are expected this year, given that the host is a petrostate and that it wants to use the summit to reach agreements with at least 15 countries to extract its oil and gas resources.