In the FT, US energy editor Derek Brower examines why President Joe Biden has approved Willow Oil and generally shown greater support for fossil fuel companies despite opposition from young people and activists. He writes: “Russia’s invasion of Ukraine is one reason for this turnaround. It was a gift to the oil industry, pushing up prices and delivering record profits to producers… The Russian invasion has also changed the narrative. ‘Net zero’ is still the buzzword on Davos stages, but after last year’s energy crisis, politicians are more concerned with ‘energy security’, meaning cheap fuel and stable supplies.” He adds that “another reason fossil fuel producers are regaining their strength is that the transition to new energy sources is proving more difficult than some strategists had expected.”

Derek Brower, Financial Times, Carbon Brief