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