UK Labour Party Calls for Inverse OPEC Alliance
UK Labour Party Leader Keir Starmer called for an “inverse OPEC” coalition of countries to help drive down global energy prices without relying on fossil fuels.
Starmer proposed a Clean Power Alliance to counter the influence of the oil cartel, with countries sharing information and investment as they forge a path to so-called net zero carbon emissions.
“This is an inverse OPEC if you like — instead of trying to ensure prices stay at a certain level, it’s to drive them down to see a common benefit, whether it’s in the UK or across the globe,” Starmer told a panel at the World Economic Forum in Davos on Thursday.
Starmer and his finance spokeswoman, shadow chancellor Rachel Reeves, are in Davos to send a message that they’re committed to attracting more business investment to the UK. The politician — whose party leads Rishi Sunak’s Conservatives by more than 20 points in a slew of recent polls — also promised there would be no new investment for oil and gas in the North Sea if he was to become prime minister at a general election that must be held in two years’ time at most. Those fuels still have a role to play in the transition to clean energy, he added.
–With assistance from Rachel Morison.
Published at Thu, 19 Jan 2023 11:00:00 -0800
