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It's not really good for those vested interests. If the rest of the world moves away from fossil fuels, they'll be stuck, in a market with shrinking growth. Ins
by softwaredoug 1y ago
It's not really good for those vested interests. If the rest of the world moves away from fossil fuels, they'll be stuck, in a market with shrinking growth. Instead they could invest in a different, growth market. If they get mixed signals from the US govt, they risk making poor strategic decisions
It may be short term good for them but long term fairly idiotic (for them and the US).
- Jtsummers 1y agoLong term isn't even that far away. Much of the developing world will be happy to adopt renewables and battery storage, just as they've been happy to adopt mobile networks over fixed lines. It's a leapfrog moment and the US is not supplying the materials nor participating in the improvements gained from it.
- softwaredoug 1y agoThe current moment is a bit like seeing the internet take off and investing in print. Sure it’ll be around still in some form, but it’s the wrong time to double down.
- Jtsummers 1y agoAnd the US's economic opponents are taking advantage of the moment. China is spending massively on solar production and deployment, and selling their panels to other countries. The US will be the loser here: 1. More expensive power from non-renewables. Especially as the global consumption of fossil fuels decline (so domestic costs will likely rise). This will become a drag on the US economy. 2. Not participating in the production and sale of solar panels to other nations. Trump decries the US trade deficit while simultaneously discouraging one massive upcoming market that the US could become a net exporter in.
- reactordev 1y agoHe's doing the exact opposite of making America great again. If there was ever a time for other countries to leap frog us and get ahead, it's now. Just don't touch our AI bubble.