The end of oil? 53 nations gather to plan a fossil fuel phaseout

More than 50 nations are gathering in Colombia to negotiate a historic fossil-fuel phaseout treaty amid a global shift toward renewables. The move comes as oil prices skyrocket and supply disruptions occur due to the closure of the Strait of Hormuz. Fossil fuels have become expensive and unreliable, while renewables are cheap, reliable, and secure. The conference was planned before the Iran war but has been greatly impacted by the current energy crisis.