Critics say president is locking into 20th century energy systems even as his ‘bet’ on oil and gas ‘isn’t going so well’
By attacking Iran and threatening to seize its oil while taking extraordinary measures to block clean energy back in the US, Donald Trump has inadvertently highlighted the dangerous volatility of the fossil fuel era, critics say.
The US and Israel’s bombardment of Iran and southern Lebanon has caused a humanitarian and environmental toll, with threats of further escalation set to add to these casualties as well as add more planet-heating emissions and destroy drinking water supplies.
Iran’s blockade of the strait of Hormuz, where a fifth of the world’s oil is normally transported, has threatened economies around the world as energy costs have spiked, with consumers globally paying out more than $100bn extra to fossil fuel companies since the conflict began last month. In the US, the average national cost of gasoline has risen to nearly $4 a gallon.
“It’s quite a bet the president has made on fossil fuels and as of today it isn’t going so well,” said Alice Hill, an energy and environment expert at the Council on Foreign Relations.
