With the US election news dominating the headlines today, we ask, what could the radical views of America's newly elected president really mean for the global energy market?
Could Donald Trump's belief that 'global warming' is a merely a manufactured concept really mean that his government will divert funds from renewable projects to US energy infrastructure and fracking? It would mean a major turnaround of US policy and the knock on effects could touch us all. If the US becomes self-sufficient in energy by its proposed plans to expand its fracking for gas and oil and therefore increase its coal consumption, they could break all necessary links with OPEC and other oil producers shrinking the global oil and LNG markets significantly.
But what could this mean for energy prices? Oil and gas prices could fall as a result, and therefore they could become a more attractive purchasing open that existing renewable energy, so in theory, the renewable infrastructure could slow and utimately stall.
So, it could mean cheaper oil and gas, but is the prospect that of a broken planet?
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