Joe Biden Hosts Global Climate Talks as US Gas Prices, Inflation Soar

Facts

• US Pres. Biden hosted the Major Economies Forum on Energy and Climate on Fri., attended by more than 20 of the world's biggest economies including China, Germany, Saudi Arabia, the UK and the EU.¹
• The conference focused on discussing steps to curb methane emissions, address climate change, and stabilize global energy markets that are spiralling amid Russia's invasion of Ukraine and Western sanctions.²
• Biden announced on Fri. that the US and the EU had begun the next stage in their plan to reduce methane emissions by 30% by 2030. He also announced a new global initiative to raise $90B for new clean technologies, for which Washington will reportedly provide $21.5B.³
• Biden said he is 'using every lever available' to make life more affordable and bring down prices but that it's critical for the world to 'transition to a clean and secure and long-term energy future.'⁴
• Addressing the Ukraine war's impact on the global food system, Biden also pledged to provide $100M in new funding for the development of alternative fertilizers ahead of the Nov. World Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt.⁵
• The event comes as inflation rates across the world soar and Biden acknowledged that there are hardly any short-term options available to immediately lower gas prices. Fuel costs recently hit an average of $5 a gallon in the US for the first time ever.³

Sources: ¹Al Jazeera, ²News.Trust.Org, ³CNN, ⁴PBS NewsHour and ⁵VOA.

Narratives

• Republican narrative, as provided by New York Post. The Biden administration has severely mishandled the spiralling economic situation in the US. Inflation and record gas prices are continuing to impact all areas of life for the average American from food to transportation, and although Biden has promised to make life affordable he's in fact exploiting the situation for political gain by using it to advance his climate change agenda.
• Democratic narrative, as provided by Whitehouse. The US is a world leader in numerous areas and must continue to lead the transition away from fossil fuels and towards a more sustainable future. The progress Biden announced on Fri. is in line with years of US policy, supported by the people, and the latest plans are attainable without undue sacrifice. If action on climate change isn't taken soon, there will be nothing left for anyone to fight for.