2021 United Nations Climate Change ConferenceThe 2021 United Nations Climate Change Conference, more commonly referred to as COP26, was the 26th United Nations Climate Change conference, held at the SEC Centre in Glasgow, Scotland, United Kingdom, from 31 October to 13 November 2021. The president of the conference was UK cabinet minister Alok Sharma. Delayed for a year due to the COVID-19 pandemic, it was the 26th Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC), the third meeting of the parties to the 2015 Paris Agreement (designated CMA1, CMA2, CMA3), and the 16th meeting of the parties to the Kyoto Protocol (CMP16).
1970s energy crisisThe 1970s energy crisis occurred when the Western world, particularly the United States, Canada, Western Europe, Australia, and New Zealand, faced substantial petroleum shortages as well as elevated prices. The two worst crises of this period were the 1973 oil crisis and the 1979 energy crisis, when, respectively, the Yom Kippur War and the Iranian Revolution triggered interruptions in Middle Eastern oil exports. The crisis began to unfold as petroleum production in the United States and some other parts of the world peaked in the late 1960s and early 1970s.
Energy transitionAn energy transition (or energy system transformation) is a significant structural change in an energy system regarding supply and consumption. Currently, a transition to sustainable energy (mostly renewable energy) is underway to limit climate change. It is also called renewable energy transition. The current transition is driven by a recognition that global greenhouse-gas emissions must be drastically reduced. This process involves phasing-down fossil fuels and re-developing whole systems to operate on low carbon electricity.
Price of oilThe price of oil, or the oil price, generally refers to the spot price of a barrel () of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level. The global price of crude oil was relatively consistent in the nineteenth century and early twentieth century.
Peak oilPeak oil is the point in time when the maximum rate of global oil production is reached, after which production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price. A secular decline in oil extraction could be caused both by depletion of accessible reserves and by reductions in demand that reduce the price relative to the cost of extraction, as might be induced to reduce carbon emissions.
Fossil fuel phase-outFossil fuel phase-out is the gradual reduction of the use and production of fossil fuels to zero, to reduce deaths and illness from air pollution, limit climate change, and strengthen energy independence. It is part of the ongoing renewable energy transition. Although many countries are shutting down coal-fired power stations, electricity generation is not moving off coal fast enough to meet climate goals. Many countries have set dates to stop selling petrol and diesel cars and trucks, but a timetable to stop burning fossil gas has not yet been agreed.
2007–2008 world food price crisisThe world food price crisis refers to a period of time when the cost of food increased significantly and had a profound impact on the availability and affordability of food for people around the world. This crisis is often characterized by sharp spikes in the prices of key staple foods such as wheat, rice, and corn, as well as other agricultural commodities such as sugar and oil. The causes of the world food price crisis are complex and multifaceted, but they generally involve a combination of factors including droughts and other weather-related events, increased demand for biofuels, trade policies, and financial speculation.
Boris JohnsonAlexander Boris de Pfeffel Johnson (ˈfɛfəl, born 19 June 1964) is a British politician and writer who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2019 to 2022. He previously served as Foreign Secretary from 2016 to 2018 and as Mayor of London from 2008 to 2016. He was Member of Parliament (MP) for Uxbridge and South Ruislip from 2015 to 2023, having previously been MP for Henley from 2001 to 2008. Johnson attended Eton College and studied Classics at Balliol College, Oxford.
