A second Trump presidency could place a huge part of renewable energy investments at risk, increase carbon emissions by 1 billion tonnes more by 2050 and delay peak fossil fuel demand by 10 years beyond current forecasts
, energy analytics firm Wood Mackenzie has predicted. WoodMac projects $7.7T in overall spending by the U.S. energy sector through 2050 under current policies, a figure that could be cut by $1T under Trump through reduced policy support for low carbon energy and infrastructure improvements. Analysts have predicted that less spending on low carbon energy could boost demand for natural gas by 6% or 6B cf/day by 2030.
Chevron Corp.NYSECVX, BP Inc.NYSEBP, Shell Plc NYSESHEL and TotalEnergies SE NYSETTE rocketed to $410 billion during the first three years of the Biden administration, a 100% increase compared to the corresponding period of Donald Trump’s presidency. By Alex Kimani for Oilprice.com
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