Pulitzer Prize-winning author Daniel Yergin on energy security in a changing world
Energized: The Future of Energy
Bridging Perspectives: Funding Energy for Progress
A significant disparity exists between the financing opportunities available to developing nations and those enjoyed by wealthy countries. In particular, African nations like Senegal struggle to obtain funding for essential energy infrastructure projects such as natural gas pipelines, which are crucial for improving quality of life by reducing the time spent gathering firewood and mitigating indoor pollution. European banks' reluctance to finance these projects reflects a lack of understanding of the economic realities faced by these countries. With per capita incomes vastly different—$60,000 in Germany versus $3,000 in Senegal—a perspective gap emerges, highlighting the challenge of applying the values of affluent Western societies to the needs of developing nations. This situation underscores the complexity of discussions around energy security and transition, as developing countries are left without necessary support to progress.
