The most obvious way to slow, or even reverse global warming is to reduce the amount of greenhouse gas released into the atmosphere. However, this is a great challenge due to multiple reasons:
Getting 194 nations to agree on anything, let alone a re-tooling of the global energy system that drives economies, is fiendish. Yet without an international deal that sets targets for all, no one nation can be certain that others will pull their weight.
Oil is the biggest single energy source and replacements for the energy-dense, easily transported fuel are hard to find. Only more fuel-efficient vehicles, better public transport, and electric cars will get us off the oil hook. Coal is the next biggest and, while more efficient power stations can make a big difference, only capturing and burying the carbon dioxide pumped out will clean up coal. Gas is the third of the fossil fuel big three, and the only one predicted to rise in use by 2035. Shale gas, extracted from rock by the controversial process of fracking, will make up a fifth of supplies by that date. But carbon capture must also be applied to gas power plants.
Oil and gas producing countries have a strong interest in the continued use of fossil fuels and they will continue promoting and subsidising them. Energy-intensive industries are migrating to low-cost energy countries. A significant and growing part of Saudi Arabia’s oil production is used for local industries (petrochemicals, metal processing), generating a second income stream in addition to oil production. To some extent this also applies to the United States where a rapid increase in low-cost shale gas production has resulted in a long term reduction of electricity prices; a significant competitive advantage for any U.S. energy-intensive industry.