In the final hours of global climate talks at Sharm El-Sheik, Egypt, 80 developed and developing nations backed a call for the final agreement to include language affirming the wind down of fossil fuel use. The suggested text was opposed by major oil and gas producers, notably Saudi Arabia, which argued that carbon capture and storage (CCS) is a viable emissions reduction solution that can eliminate emissions from continued oil and gas production and consumption. Saudi Arabia took the occasion of the twenty-seventh Conference of the Parties (COP27) to unveil its plans to host the world’s largest CCS hub, led by its state-owned oil and gas firm Saudi Aramco, in what it termed “the circular carbon economy.”
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