What Is The G20 Agreement

Some of the group`s policy directions were also unpopular, particularly among liberal groups. Protests at the group`s summits have included a warning to the G-20 of promoting trade agreements that strengthen big business, have committed crimes in the fight against climate change, and fail to address social inequalities and global threats to democracy. Two weeks ago, G20 leaders held an emergency summit that yielded a modest result. The summit communiqué contained an important expression of global solidarity, some underpass tasks to conduct ongoing consultations, and no mention of critical segments of the economy such as energy. While the result was an urgent recognition of the need for global cooperation, it lacked the concrete action plan and real coordination that followed the 2008-2009 financial crisis. Due to the inability to find a solution to the impending fall in oil prices, G20 energy ministers will meet this week to find a possible solution. Three important and tangible things can come from this meeting and perhaps lead to the G20 agreement, which the world really needs right now. Large consumers such as China, India and the United States can agree to buy crude oil for their emergency stocks. Large producers can give estimates of what the market will do for their planned production in the coming months and for the coming year, an exercise that will undoubtedly show production reductions for anyone who reacts to market forces.

The group will then be able to discuss the types of developments that should be reported for greater attention, such as the lack of investment. B or losses or critical capacity or infrastructure. You should answer the question of where are the potential threats to the energy security of this situation? Groups should also identify avenues that appear acceptable and less desirable to support a country`s domestic oil industry. It should be noted that tariffs and trade measures are less desirable, as this can limit and distort the ability to respond quickly to market developments.


Comments are closed.