, Columnist
The Countries That Pay in the IEA’s Path to Net Zero Emissions
An end to oil exploration will hit places like Angola, which rely on outside investment, particularly hard.
Angola’s deepwater days are numbered.
Photographer: RODGER BOSCH/AFPThis article is for subscribers only.
Last week the International Energy Agency laid out a pathway for reaching net-zero carbon dioxide emissions by 2050. One feature got a lot of attention: It called for an end to oil exploration and the development of new fields.
Sure, U.S. drillers will complain and big producers like Saudi Arabia and Russia will worry (or ignore the warnings), but it’s the smaller countries, which rely on outside investment to drive their industries, that will suffer the most economic damage if oil companies heed the IEA’s recommendation.