U.S. Commerce Secretary Howard Lutnick criticized Europe's carbon neutrality goals during a panel discussion at the World Economic Forum (WEF), questioning why do they have such targets if they don't "make a battery." "They are deciding to be subservient to China who makes the batteries. Why would you do that?" he asked. "Why would the United States of America, which has oil and natural gas, try to convert to all electricity? China does not have oil and natural gas. Electricity and electric cars make perfect sense to them. That is practical and logical." According to official data, over 75 percent of the EU's greenhouse emissions come from the energy sector, making decarbonization vital to achieving 2030 climate targets and carbon neutrality by 2050.