Venezuela tells COP31 it has a sovereign right to pump more oil

Venezuela's Acting President Delcy Rodriguez asserted at COP31 that the nation possesses the sovereign right to expand its oil industry, despite acknowledging the urgency of addressing climate change. This stance contrasts with other conference leaders who are urging global governments to expedite the transition from carbon-emitting fossil fuels.

However, it aligns with the United States' strategy to generate billions of dollars to boost oil production in Venezuela, a member of the Organization of the Petroleum Exporting Countries. Rodriguez emphasized that it is feasible to foster economic growth while preserving the environment. She highlighted that Venezuela's forests function as a "lung for the planet", absorbing more carbon than the country emits.

The Acting President did not elaborate on the environmental impact of the country's oil exports. The comments come as President Donald Trump, who severed the United States from formal climate cooperation following his assertion that global warming is a hoax, has suggested that investing in Venezuela's oil could enhance national security by augmenting energy supplies in the Western Hemisphere.

British Prime Minister Andy Burnham echoed concerns about energy supply vulnerabilities stemming from the US-Israeli conflict with Iran and Russia's war with Ukraine, emphasizing that dependence on uncontrollable energy sources exposes nations to unpredictable price fluctuations. The five-day COP31 conference, ongoing on the Turkish Mediterranean coast, aims to reach an agreement to enhance progress in combating climate change.

A recent UN report indicated that the world is on track to surpass the 1.5 degrees Celsius (2.7 degrees Fahrenheit) warming threshold agreed upon in the 2015 Paris Agreement.