FT News Briefing Can Africa grow without fossil fuels?
Jun 3, 2022
Investors are rediscovering confidence in China's stock market after a significant sell-off. OPEC is set to ramp up oil production, influenced by U.S. pressure. Meanwhile, a thought-provoking discussion unfolds about Africa's potential to grow without fossil fuels. Can countries like Kenya, with its geothermal success, lead the charge towards renewable energy, while nations like Nigeria remain tied to oil? The podcast highlights the pressing climate change dilemmas facing Africa, emphasizing the need for global support and responsibility amid these challenges.
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Africa's Energy Dilemma
- The war in Ukraine has disrupted decarbonization efforts, raising questions about Africa's energy future.
- Some African nations, underdeveloped yet rich in resources, seek to leapfrog to renewables while others prioritize industrialization via fossil fuels.
Kenya's Geothermal Success
- Kenya gets 75% of its electricity from renewables, primarily geothermal.
- Geothermal acts as a reliable baseload power source, unlike intermittent solar and wind.
Nigeria's Pro-Fossil Fuel Stance
- Nigeria's vice president argues that industrialization requires fossil fuels, citing low per capita emissions compared to the U.S..
- He advocates using Nigeria's oil and gas reserves for development, challenging the West's pressure to decarbonize.