America's allies just insulated themselves from a psychopath bent on retribution
Alternet • • business
Key Points:
- The International Energy Agency calls the current energy crisis, sparked by Trump's war in Iran, the largest supply disruption in global oil market history, driving a global shift toward renewable energy.
- Dramatic cost reductions in solar, wind, and battery storage have made renewables the cheapest energy sources, prompting countries to accelerate their transition to green energy for security and economic stability amid geopolitical tensions.
- Nearly 60 nations convened in Colombia to fast-track fossil fuel phase-out plans, excluding the U.S., signaling a collective move away from Trump's fossil fuel policies and climate science denial.
- Major countries including China, the EU, South Korea, India, Saudi Arabia, and several Southeast Asian nations are rapidly expanding renewable energy capacity to reduce reliance on oil imports and enhance energy security.
- The energy crisis has caused long-term damage to the fossil fuel industry, with experts predicting sustained growth in renewables and nuclear power, marking an ironic legacy of Trump's policies fueling a global green energy transition.
