G20 Leaders are Discussing Energy Prices and other Economic Issues Today

G20 leaders gathering in Rome for their first meeting since the start of the pandemic face a global recovery hampered by a number of obstacles: an energy crisis driving higher fuel and utility prices, new outbreaks of Covid-19 and blocked supply chains.

The summit today and tomorrow will allow leaders representing 80 percent of the world's economy to speak out and put pressure on all these issues, the Associated Press reported. However, analysts question the progress that can be made to ease the burden on people who are subject to rising prices for everything from food and furniture to higher heating bills at the start of the winter season.

The forum offers an opportunity for dialogue on high oil and gas prices, as it includes delegations from major energy producers such as Saudi Arabia and Russia, major consumers in Europe and China, and both of which is the United States.

However, among the presidents and prime ministers of the 20 leading economies, the leaders of key economic players China and Russia will not be present in person. Xi Jinping and Vladimir Putin plan to participate remotely. This probably does not bode well for cooperation, especially on energy issues, at a time when climate change is in the spotlight just ahead of tomorrow's UN COP26 Conference in Glasgow, Scotland, the AP notes.

At the meeting, US President Joe Biden is expected to insist on sharing more information on supply chain issues that have slowed growth in the developed world. The closure of ports and factories, the shortage of sea containers and the growing demand have led to delays in the supply of all kinds of goods - from bicycles to computer chips used in smartphones and cars.

In the long run, leaders can discuss efforts to...

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