Global upstream webinar: energy transition and taxation

Energy transition requires the reduction of demand for fossil fuels, offset by an increase in demand for energy from renewable sources. Renewable energy sources must be developed as quickly as possible to meet that demand. Then fossil fuel supplies will gradually become unnecessary. Governments have a pivotal role to play in enabling the transition, not least because they can intervene in markets and alter the price of energy through taxation policies. They can also use their regulatory power to impose conditions on the energy markets to compel them to meet their decarbonisation ambitions.