America’s domination of oil and gas will not cow China
Being an importer of fossil fuels and an exporter of renewable technology is not so bad
For more coverage of climate change, register for The Climate Issue, our fortnightly newsletter, or visit our climate-change hub
“THE UNITED STATES OF AMERICA is now the number-one energy superpower anywhere in the world,” President Donald Trump told oilmen in Midland, Texas this summer, from a stage decorated with gleaming black barrels. The sheer volume of hydrocarbons that such American oilmen have released from the shale beneath Midland and previously unforthcoming geology elsewhere gives substance to his boast (see chart 1). Over the past decade America’s oil output has more than doubled and its gas production increased by over 50%. America is now the world’s top producer of both fuels.
This article appeared in the Briefing section of the print edition under the headline "Petrostate v electrostate"
From the September 19th 2020 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Briefing
America’s $61bn aid package buys Ukraine time
It must use it wisely
America is uniquely ill-suited to handle a falling population
Which is a worry, because much of it is already shrinking
Homeowners face a $25trn bill from climate change
Property, the world’s biggest asset class, is also its most vulnerable