The protests are already breaking a lot of the fossil fuel industry. The simple truth is that the inflation reduction act means cheap American EVs on a massive scale. That removes most of the US oil consumption. Renewables and gas have taken out most coal electricity generation in the US and renewables are starting to kill gas as well. So local demand in the US for oil and gas is going to fall in the coming years
So by blocking or just delaying exports, this is becoming a rather large problem for the US.
That is on top of China investing a lot into renewables and the EU being probably even further along, with some fairly powerfull legislation. Seriously we are getting very close to peak emissions and that means the death of the fossil fuel industry is starting.
The protests are already breaking a lot of the fossil fuel industry. The simple truth is that the inflation reduction act means cheap American EVs on a massive scale. That removes most of the US oil consumption. Renewables and gas have taken out most coal electricity generation in the US and renewables are starting to kill gas as well. So local demand in the US for oil and gas is going to fall in the coming years
So by blocking or just delaying exports, this is becoming a rather large problem for the US.
That is on top of China investing a lot into renewables and the EU being probably even further along, with some fairly powerfull legislation. Seriously we are getting very close to peak emissions and that means the death of the fossil fuel industry is starting.