Biden: "International Energy Crisis Worsens Due to Russia... Energy Security Must Be Ensured"

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Josel Gina] U.S. President Joe Biden stated on the 17th (local time) that "Russia's barbaric and unjustified attack on its neighboring country Ukraine has intensified the international energy crisis," adding that "the need to secure reliable energy security in the long term has increased."

President Biden chaired a virtual summit of the 'Energy and Climate Forum (MEF)' in Washington DC on the same day, saying, "We are using every tool available to lower (energy) prices for the American people."

He explained, "Including the release of strategic petroleum reserves, participating countries are working together to stabilize the international energy market," and added, "The important point is that these actions are part of the transition process to secure clean energy in the long term."

Furthermore, he emphasized, "We cannot let our efforts to limit global temperature rise to 1.5 degrees fail," and stated, "Energy security goes hand in hand with climate security. We must commit to taking additional efforts to achieve existing goals and make progress."

Along with this, President Biden reaffirmed plans to convert half of all vehicles in operation to eco-friendly cars by 2030 and emphasized investment policies in green technology.

He mentioned, "Russia's war has worsened the food crisis, partly due to soaring fertilizer prices dependent on natural gas," and referred to the 'International Fertilizer Challenge' aimed at improving fertilizer efficiency and developing alternatives.

The MEF is a consultative body established in March 2009 by former U.S. President Barack Obama with the goals of successfully hosting the Copenhagen Climate Conference, promoting clean energy, and reducing greenhouse gas emissions. The meeting was attended by more than 20 country representatives, including Prime Minister Han Duck-soo.

This content was produced with the assistance of AI translation services.