Analysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
Analysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
Analysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
US renewables stand to lose big in a trade war, but the sting extends to oil and other energy industries, say researchers from Wood Mackenzie.
My main takeaway from it is that everyone loses in a prolonged conflict. Even the oil and gas industry, which has close ties to the Trump administration, would face falling prices for its products at the same time that the costs of much of its equipment are rising because of tariffs.
The US renewable energy and battery industries stand out for the potential severity of their downturns because development here relies heavily on components made in other countries. The Biden administration sought to encourage manufacturers to build in the United States, but those efforts are still in their early stages, and many of the government incentives are now on the chopping block.
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