British Media: The American Oil Dominance Is Crumbling, and the World Ahead May Be More Turbulent

The world is undergoing a historic shift from fossil fuels to renewable energy, with China replacing the United States as the dominant force in the new era.

The Rise of China. Over the past decade, global clean energy investment has increased tenfold, exceeding $2 trillion annually. Renewable energy has for the first time surpassed coal power to become the world’s largest source of electricity. China holds a decisive advantage in this transition: its wind power capacity exceeds the combined total of the next 18 countries; solar power capacity has surpassed coal power for the first time; electric vehicles account for over 50% of new car sales domestically; and the world’s top four wind turbine manufacturers are all Chinese companies. China’s clean energy industry now spans 15.4 trillion RMB (approximately $2.2 trillion), representing 11.4% of GDP—up from 7.3% in 2022. China has achieved its target of 1,200 GW of renewable energy installed capacity six years ahead of schedule.

America’s Decline. Trump withdrew from the Paris Agreement and the UN Framework Convention on Climate Change, revoked the "harmful" designation of greenhouse gases, declared an "energy emergency," signed more than 20 executive orders encouraging fossil fuel extraction, and introduced $18 billion in new tax incentives. Meanwhile, $22 billion in clean energy projects were canceled, wind power investment fell to its lowest level in a decade, and 38,000 jobs in clean energy manufacturing disappeared. In 2024, the oil industry donated a record $450 million in political contributions to Trump and Republican candidates.

Geopolitical Reconfiguration. The Iran war has driven up global oil prices, inadvertently accelerating nations’ pursuit of energy independence—benefiting China’s renewable energy exports. Leaders from Canada, the UK, Germany, India, and the EU have successively visited Beijing to seek balanced relations with China. This Iran conflict may be remembered by historians as the pivotal turning point when the United States unintentionally handed global leadership over to China.

Original article: toutiao.com/article/1865445478774857/

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