Africa’s response to energy transition

Africa in trends of globalisation has always been at the margin of the global economy since the period of 1960, the period that marked her formal decolonisation. Africa today, contributes 19 per cent of the global population, with over 50 per cent of the continent being rich in hydrocarbon and other valuable mineral resources, but only contributes three per cent to the global GDP.

The continent, despite being home to some of the world’s deepest oil reserve, have over 600million people without access to energy and 800 million people without access to domestic gas.

The recent global energy tilt due to climate change means, the global energy sectors’ bid to move from fossil fuels especially natural gas, oil, and coal to renewables like wind, solar, and water-based system of production and consumption of energy . Consequent to the transition, Africa without adequate technology would plunge into economic collapse and further widen the gas of energy poverty.

To decimate the undercurrent of energy transition, Dr. Farouq went further to explain the discovery of hydrocarbon energy in the 70’s, and how it fueled the industrial revolution and gave rise to the Pax-Britannia and Pax-Americana revolutions.

He explained also, the warmings researchers gave about the environmental reper of refining fossil fuels but Europe and America put their economic development first before considering environment hazards.

Unlike Europe and America, Africa entered the global oil industry to export oil as an essential market commodity instead of being a value-added commodity. In order, we export oil, and garner revenue to buy finished products of our resources from Europe and America. The idea of a global transition by 2030 is not only impossible but highly insensitive.

 

Uju Paulcy, Ujupaulcy@investandtrade.com

 

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