In an unexpected turnaround, the Trump administration reaffirms its strong support for fossil fuels by relentlessly attacking wind and solar technologies. While America had begun its energy transition, these measures create a profound upheaval in the energy landscape. Oil giants are regaining their lost influence, excited by this “energy liberation” policy that favors oil, coal, and other traditional sources at the expense of more environmentally friendly solutions.
Trump Attacks Renewable Energies
Since his return to the presidency, Donald Trump has intensified his offensive against renewable energies, particularly wind and solar. With measures aimed at restricting funding and development of these technologies, Trump seeks to reverse the trend initiated during the previous administration. Some large-scale solar projects have had their funding frozen while the administration bets on expanding oil and gas on American soil.
The Revival of Fossil Fuels
Through a set of policies, the Trump administration promotes a massive return to fossil fuels. Initiatives such as increasing oil drilling on public lands and the withdrawal of the United States from the Paris Agreement illustrate this strategic shift. By marking its intention to move away from clean energy, Trump resolutely commits to a direction opposed to that of Biden, thus jeopardizing thousands of potential jobs in the renewable sector.
Oil Giants in Euphoria
The industrialists of oil see opportunities for expansion in this change. With the loosening of environmental regulations and encouragement of investments in oil, companies are in a favorable position to increase their economic footprint. This return to a energy model focused on fossils is welcomed by major names in the industry. While investments in renewables continue to grow internationally, American oil companies are rubbing their hands at this national bonanza.
