Donald Trump is undoing all the good work done by his predecessor on climate change. If America is not taking action, why should other nations bother? Australia, for example, is only responsible for 1 percent of global emissions. That’s nothing.
Fact:
Donald Trump is undoing a lot of the initiatives introduced by the Biden Administration, but not even he can change the economics underpinning the energy transition. The fact is, renewable energy is now considerably cheaper than fossil fuels, and that trend is set to continue. Indeed, during the first year of Trump’s second presidency, 92 percent of all new investment in the electricity sector was in renewables. All the rest was in fracked gas. None was in coal (or nuclear, for that matter). And with EVs now accounting for a quarter of global car sales, the future of petrol- and diesel-powered cars – and therefore of oil – looks grim.
Donald Trump, railing against renewable energy [Source: Rawpixel.com]