The green transition will transform the global economic order

By Matthieu Favas

The transition to a carbon-neutral world should make all countries better off, at least in theory. Many will rely less on fuel imports, yielding big savings and insulating their economies from swings in hydrocarbon prices. Those that export the metals needed for new Teslas, turbines and terawatt-hours of grid capacity will earn juicy rents. Even former petrostates may thrive if they can use revamped refineries and pipelines, as well as wind and sun, to make hydrogen. And everyone would welcome a planet that stops getting hotter and more dangerous every year.