Opinion | Bad economics
Summary
The US is pressuring allies in Europe and Asia to buy more US fossil fuels through large, long-term contracts, aiming to preserve its energy dominance and counter China, even as renewables become cheaper and more competitive.
Key Points
- The US is pushing its allies to sign large-scale long-term fossil fuel contracts to sustain its energy sector amid declining fossil fuel prospects.
- This strategy aims to maintain US dominance in global energy flows and weaken China's growing control over clean technology manufacturing.
- Such deals risk making US allies less competitive due to higher energy costs and threaten their national security by reducing energy sovereignty.
- Accelerating green energy transitions offers cheaper power, greater independence, and economic advantages for Australia and Asian countries, countering US fossil fuel interests.
