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The shift in global energy policy amid energy crisis
Global energy policy is facing an increasingly difficult dilemma as an energy crisis looms after the massive global pledge on no new exploration commitment
WRITTEN BY : BLAISE HOPE
National energy policy regulates a set of measures related to climate actions of the country , with global energy policy setting the standards for all these directives .
To create an energy policy , countries have to take into consideration their selfsufficiency , how far their population can endure energy poverty , and energy consumption objectives , as well as the future consequences for national security and foreign policy upon taking certain energy-related decisions .
From energy planning , generation , transmission and usage to fiscal policies on energy-related products and services , there are certain countermeasures to ensure that energy won ’ t be the cause of friction between sovereign nations . With the post-pandemic transition to take place and Ukraine-Russia remaining in tension , the reconciliation process between global objectives and international rules with domestic needs and laws has become particularly challenging .
98 July 2022