What Does President Trump Mean For Global Energy Market?
Author: Source: Datetime: 2016-11-13 20:16:36
Trump believes climate change is a scam, most likely spread by the Chinese. He ridiculed the idea of carbon prices, vowed to pull America out of the Paris climate deal, unveil a clean energy policy, and pledge to "rescue" the coal industry by allowing oil and gas drilling companies.
But as an expert, such as Alden Meyer, from the Concerned Scientists Coalition, Trump can not change physics. Climate change is still happening. It is difficult to deal with shipboard support in the United States. Without it, the rest of the world will need to redouble its efforts.
Energy turns to cheaper and cleaner energy is happening anyway. Trump can slow the pace of the United States, but it will accelerate to other places, the United States at a significant disadvantage; although it should be noted that the US renewable energy investment is largely driven by the country's goals.
HSBC pointed out that Trump's policies to President Obama came to power when they see the decarbonization and clean energy consumption at risk, it may slow down the US energy system transformation and domestic mitigation measures of climate change.
But while Trump can not control the solar powered portable generator market, which is headed towards 2c / kWh, he has no impact on battery storage, which is below 400 / kWh and its main inflection point.
This is a key point. Wind and portable solar power generator energy and their enabling technologies are becoming cheaper and cheaper with or without Americans, and the fossil industry will be broken.
As a result, the current energy oligarchy has no reason to be complacent or satisfied from this result. Brexit and Trump show a desire for disruption, the decline in the cost of technology for the energy industry to provide an unprecedented means of the scale - the energy industry in the past few decades has enormous political and economic strength.
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