alt Hacker Newsthere are at least two reasons trump is pushing for oil:
1) the US has lots of oil reserves, which would lose lots of value if everybody was using renewables 2) oil is the main driver for dollar demand, as oil is paid in dollar, allowing the US to have lots of debt relatively cheaply
That's also the reason why he wants to tell Europe to stop using renewables, and that's the reason why he is threatening Venezuela - because they have the biggest oil reserve and started selling it in different currencies.
Now whether that whole genius strategy to gain wealth through geopolitics is worth an extinction event is a different story.
Replies
There is a third important reason--
For some reason, oil has masculine aesthetics but wind power doesn't. I don't think this is a calculated play
> oil is the main driver for dollar demand, as oil is paid in dollar
This stupid meme needs to die.
Maybe a third reason:
“Last week, Trump Media, the parent company of Truth Social that is majority-owned by the president, said it was getting into the energy business, announcing a merger with a fusion firm TAE Technologies.”
> That's also the reason why he wants to tell Europe to stop using renewables, and that's the reason why he is threatening Venezuela - because they have the biggest oil reserve and started selling them not in USD.
What's interesting is that the strategy you suggest (tell Europe to stop using renewables, attack nations that compete with US oil sales) only motivates other nations to move away from oil. It's a terrible strategy if the intent is to sell more US oil. Renewables are far more sustainable in many regards, and bolster national energy security while remaining on fossil fuels leaves them weak wrt energy security.