MADRID, Nov 13 (IPS) – During his election campaign, incoming US President Donald Trump highlighted that the US holds more oil than any other country, surpassing Saudi Arabia. In this context, he encouraged big businessmen to enter these reserves with these words: ‘Drill, baby, bore.’
The US president-elect has also threatened to impose record tariffs on electric cars imported from China, raising them between 100% and 200%, and has also hinted at higher tariffs on European cars.
As the US remains the world’s second largest contributor to climate change after China, do you expect this year’s climate summit in Baku, Azerbaijan (11-22 November) to surpass all 28 Conference of the Parties (COP) summits? UN Framework Convention on Climate Change failed?
In other words, can COP29 come out with effective, affirmative, legally binding decisions to mobilize a number of financial resources (between 187 and 359 billion US dollars annually) to overcome the current huge financial gap?
Or will this expensive rally end up with a generic ‘politically correct’ announcement that will be heralded as a “landmark,” “historic,” albeit non-binding move to stop the growing “climate crisis,” as United calls it. United Nations Secretary-General Antonio Guterres.
So far, the main political – and financial – leaders have decided to skip the conference, as happened in the United States, the European Commission, and Germany, among others.
The Big Fiscal Gap
The life-saving amount needed to treat people and the Environment -187 to 359 billion dollars per year- is just a fraction of what the world’s military forces spend – every year- on weapons whose mission is to kill people and the Environment.
See what an independent international institute dedicated to research on conflict, weapons, arms control and disarmament: The Stockholm International Peace Research Institute (SIPRI) reports:
- Average global military spending increased for the ninth year in a row by 2023, surpassing $2.4 trillion,
- Despite the resulting increase in the demand for weapons and ongoing efforts to meet that demand, weapons companies have found it difficult to improve production.
- The 6.8 percent increase in military spending by 2023 was the largest increase since 2009 and pushed total global spending to the highest level recorded by SIPRI.
- As a result, the global military burden—world military spending as a share of gross domestic product (GDP)—increased to 2.3 percent.
- Governments allocated an average of 6.9% of their budget to the military or 306 US dollars per person.
- Estimated military spending rose in all five geographic regions for the first time since 2009.
‘America First’
“The United States remained the largest military spender in the world.”
The USA’s spending of $916 billion was more than the spending of 9 other countries among the top 10 users, and 3.1 times the amount of the second largest spender, China, SIPRI reports, ranked among the most respected countries . think tanks around the world
In the same year -2023- up to 39 of the 43 countries in Europe have increased military spending. The 16 percent increase in overall European spending was driven by a 51 percent increase in spending in Ukraine and a 24 percent increase in spending in Russia.
The Israel–Hamas war was responsible for a 24 percent increase in military spending in Israel, added SIPRI in its 2024 Yearbook.
Major Polluters
The United States and other rich, industrialized countries, such as Europe, and Japan, are the biggest polluters, as are China and India, while they are the ones with the greatest potential to reduce the fiscal adjustment gap it has created.
See what a global organization of people who fight injustice for an equal world, working in many regions in 79 countries, with thousands of partners and allies: Oxfam International reveals in its report: “Carbon Inequality Kills”:
- The Super Yachts and Jets of Europe’s Elite Emit More Carbon Pollution a Week Than the World’s Poorest 1% in a Lifetime
- The richest European takes an average of 140 flights a year, spending 267 hours in the air and producing as much carbon as a European in more than 112 years.
- Meanwhile, the richest European in his boats emits, on average, the equivalent of the average European in 585 years.
Regarding the financing gap for climate adaptation, the report highlights what it called Make rich polluters pay.
“The needs for climate finance are large and increasing, especially in the countries of South Africa which are facing the worst impacts of climate change.
“A wealth tax of up to 5% on Europe’s millionaires and billionaires could raise 286.5 billion euros a year. , supporting communities to build better lives, increase resilience and protect lives and livelihoods in times of crisis.”
Victims Pay?
Another global organization of more than 10 million people in more than 150 countries and regions campaigning to end human rights abuses: Amnesty International, reported.
“With millions of people already displaced by climate change disasters in Africa, the richest countries facing global warming must agree at the COP29 climate conference in Baku, Azerbaijan “to fully compensate for the catastrophic loss of housing and damage to livelihoods that is taking place cross country. continent.”
Africa’s contribution to climate change is a negligible 2 percent.
And the suicidal battle between Nature and People continues
On the eve of COP29, the World Meteorological Organization has warned that 2024 is on track to be the warmest year on record after record high monthly temperatures around the world.
Meanwhile, since the beginning of this century, the world has seen more than 2,500 disasters and 40 major conflicts.
Misleading Claim
By the way, the statement of the president-elect of the United States that his country has the largest oil reserves in the world, including Saudi Arabia, is incorrect.
According to the WorldAtlas list of the top 10 oil reserves by country, Venezuela ranks first with 303 billion barrels, followed by Saudi Arabia with 267 billion barrels, while the United States comes in at 9th place, with oil reserves reaching 1 billion barrels. 55.
In short, in the world’s largest military empires, wars are worth more money than saving lives. And the oil business that is killing Mother Nature and everything that lives in it, is also high on their list of priorities.
‘Hold, baby, drill’
© Inter Press Service (2024) — All Rights ReservedOriginal source: Inter Press Service
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