Trump promoted fossil fuels. His war is pushing the world away from them.
As oil prices spike, governments are slashing fuel use and eyeing renewables — threatening to erode global demand for fossil energy.
President Donald Trump says he knew oil prices would go up because of the Iran war as the conflict underscores the risks of his relentless focus on fossil fuels while pursuing what he calls American energy dominance.
Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war.
President Donald Trump has been pressuring U.S. oil and gas executives to invest in Venezuelaâs energy sector, nearly three months after the toppling of former president Nicolás Maduro, as the country is said to have the largest crude oil reserves in the world.
Media reports suggest the Trump Administration is considering restrictions on US oil exports.
The oil shock triggered by the crisis in the Persian Gulf has pushed crude above $100 per barrel, reviving familiar fears of economic turmoil in the United States driven by surging gasoline and diesel prices.
Amid global oil and gas disruptions, China stands prepared for the electrostate era.