The new US President has used his first 24 hours to pull all US government support for the green energy transition. He wants to ban any new wind energy projects and withdraw support for electric cars. His new energy policy refused to even mention solar panels, wind turbines, or battery storage - the world’s fastest-growing energy sources. Meanwhile, he wants to pour money into dying and declining industries - like gasoline-powered cars and expanding oil drilling.
China was the global leader in 21st-century energy before, but its future global dominance is now assured. There will be trillions of dollars to be made supplying the planet with green energy infrastructure in the coming decades. Decarbonizing the planet, and electrifying the global south with renewables will be the largest industrial project in human history.
I keep forgetting how everything that happens in the US is because something the president did.
It’s not like the collective west has made a collective effort on the issue either, but where the EU has (finally) seen renewables as a way out of oil dependence, the US is some ways off.
It will be a big issue, though. Countries are going all electric for transportation, China (25% of world car market) is estimated to be at 57% BEV 20250, surpassing most European countries.
In the end, it is about strategic autonomy in the energy sector. Something which hasn’t been possible before, but it is now. And Europe is feeling that squeeze and look everywhere for solutions.