Oil Vs. Renewables: Competing Visions Of Global Power

(Ronald Fink – Global Finance) Aside from regime change, a central goal of President Donald Trump’s military actions in Venezuela and against Iran has been to reinforce the US as a dominant petroleum producer while curtailing federal support for alternative energy. The war in the Middle East has already injected new uncertainty into global energy markets — with strikes on Iranian infrastructure driving oil prices higher and disrupting flows through the Strait of Hormuz — and may prompt some countries to rethink their dependence on fossil fuels even as short-term demand spikes. In sharp contrast, China is intent on advancing its lead in renewable technology, even as it meets massive domestic demand for coal and oil. These divergent national approaches set up a fundamental global contest: Will fossil fuel dominance or renewable leadership define the future of energy security? As these two superpowers intensify their competition for economic and geopolitical dominance, the world’s climate future and investment flows will largely hinge on which energy model—oil or renewables—proves most viable. The global energy landscape risks a clear split: one path leading to enduring fossil-fuel dependence, the other to a renewable-powered world. – Oil Vs. Renewables: Competing Visions Of Global Power | Global Finance Magazine