The world may really be about to change. From Donald Trump saves coal from renewables surge from The Weekly Standard and published in The Australian.
No country has a greater abundance of hydrocarbon energy than the US. The corollary is that no country was as big a loser from participating in the Paris Agreement and its intention to progressively decarbonise the world’s hydrocarbon superpower. On July 10, the Energy Information Administration forecast that next year the US would produce 12 million barrels of oil a day and overtake Saudi Arabia to be the world’s No 1 producer. When it comes to the politics of energy, the interests of the US and European green ideology are irreconcilable.
Trump understands this. “Our country is blessed with extraordinary energy abundance, which we didn’t know of even five years ago and certainly 10 years ago,” the President said last year. Those remarks were not only a paean to America’s energy resources, they were a full-dress rejection of the policies of his predecessor and of the Democrats’ goal of Europeanising US energy policy.
“We have nearly 100 years’ worth of natural gas and more than 250 years’ worth of clean, beautiful coal,” he said. “We are a top producer of petroleum and the No 1 producer of natural gas. We have so much more than we ever thought possible. We are really in the driving seat. And you know what? We don’t want to let other countries take away our sovereignty and tell us what to do and how to do it. That’s not going to happen. With these incredible resources, my administration will seek not only American energy independence that we’ve been looking for so long, but American energy dominance.
“And we’re going to be an exporter — exporter. We will be dominant. We will export American energy all over the world … These energy exports will create countless jobs for our people, and provide true energy security to our friends, partners and allies all across the globe.”
For the first time since 1992, when George HW Bush went to the Rio Earth Summit, a US president was outlining a global energy strategy diametrically opposed to the tenets underlying the UN climate process. Trump was establishing a rival pole based on energy realism and energy abundance.
On just this alone, PDT can lift the American economy into a prolonged period of rising growth and higher incomes. It’s amazing that no one else has the strength and courage to do the same anywhere else.