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.
NPR's Ari Shapiro interviews Jason Bordoff, professor and founding director at the Center on Global Energy Policy at Columbia University. He was also the former White House energy advisor to President Obama. Bordoff talks about the part of the budget deal this week which lifts the ban on oil exports, and what it means for consumers, industry, the economy and the environment.
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.