US status as top energy exporter at risk
Print Edition
MERCANTILIST policies could hamper the US position as a global energy exporter, according to a new report.
The US should consider “the negative consequences of retreating from multilateral and bilateral free trade policies,” the report published by Rice University said on Friday. Titled “Energy Over the Next 20 Years: It’s Not All About the US,” the report says it is the developing world, not the developed countries, that will be the driver of global energy growth in the 21st century. The report suggests that US policy-makers should take into account the fact that the future of the US fossil fuel sector will increasingly depend on foreign demand.
The report was published on the day the US government unveiled plans to impose additional 25 percent tariffs on Chinese goods worth around US$50 billion, the latest unilateral move that could provoke a trade war between the world’s top two economies and damage the global economy and trading system.
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