Is America’s fossil fuel empire collapsing?

Energy

Summary

Together, a Green BRI (Belt & Road Initiative) and Europe’s Green Deal could provide a definitive energy transformation. Together China and Europe hold the key for the future of energy.

Perspectives and insights

  • China remains the largest producer of solar panels, wind turbines, batteries and electric vehicles, and also the top investor in clean energy. In addition to this, China is the world’s leader in renewable energy patents.
  • The significance of a green EU-China partnership is that it would provide \economies of both scale and scope.
  • The Belt & Road Initiative (BRI) proposed by China to improve connectivity between many countries is perhaps the largest infrastructure project in history. BRI investments include 131 countries supporting two-thirds of the world’s population.
  • Investments in new power generation capacity will be over $10 trillion over the next two decades. The bulk of that investment— nearly $7.4 trillion—will be in renewable energy generating capacity.

Xoologue - a discussion between Xoo and Moo

Moo: So Xoo, do you think the American fossil fuel empire is collapsing?

Xoo: No

Moo: But can America maintain its role as the world’s lone super power?

Xoo: Moo, you know that I’m a novice in politics. So, I won’t waste your time by trying to answer that question. I’d rather dwell on that question, “Can America become the green/cleantech super power?”

Moo: Well, that's an interesting question too. And your guess?

Xoo: My answer is: unlikely

Moo: Ah, you think the Europeans or Chinese will steal a march over America in high tech for clean & green?

Xoo: You know what, Moo, you inadvertently say things and use words that are give me ideas.

Moo: Always difficult to impress, aren’t you, Xoo? It wasn’t inadvertent.

Xoo: Let me continue, Moo. You used the term high-tech for clean and green.

Moo: What about it?

Xoo: I’m convinced that America will lead the world in high-tech for the foreseeable future.

Moo: But then...;Xoo: But I think the leaders of cleantech & greentech will need to master something that’s different from high-tech. High-tech in most cases has been about exploiting nature & resources. Exploiting, not necessarily always in a negative sense, but in the sense of using & depleting. Greentech will need to leverage resources, not exploit them. Greentech & cleantech will need to use technologies that are strongly aligned to how natural systems work.

Moo: And you don’t think America can become a leader in that?

Xoo: I think there are other regions, especially Europe that are far better positioned than the US.