Trade talks between the Trump administration and the European Union have drawn attention mostly because of the new tariffs. However, there is one surprising part of the deal that could greatly expand how much American oil and gas the EU is expected to buy.
Under this agreement, the 27 EU member states are expected to purchase about $250 billion worth of energy products from the United States every year until the end of Trump’s current term. That is a large increase compared to the $70 billion they currently buy, which mainly includes crude oil and liquefied natural gas.
RelatedPosts
Industry experts believe meeting this new sales goal would be nearly impossible. Even so, if any part of the energy pledge happens as planned, it could bring long-lasting effects to Europe’s economy and political choices.
Fossil Fuel Use and Global Climate
Europe is among the biggest economies, so a major change in how it uses fossil fuels could affect how fast temperatures rise across the planet.
That could influence weather events like heat waves, floods, and wildfires, both in Europe and in other parts of the world, including the United States. The warming of the Earth’s atmosphere is closely linked to how fossil fuels are burned.
For a long time, American foreign policy has been shaped by energy interests. But now, the current administration is using fossil fuel exports as a way to influence how other countries make energy-related decisions.
U.S. Government Statement
According to a document from the White House, this agreement is expected to support America’s energy leadership, reduce Europe’s need to buy fuel from countries it does not trust, and help lower the U.S. trade imbalance with Europe.
The European Union has already made its aim clear: to cut or completely stop buying fuel from Russia. Even though Europe has been making progress in cutting back on its use of Russian gas, buying so much energy from the United States may now create a new concern.
Relying too heavily on one foreign supplier raises worries about long-term energy security. This new deal now brings up another question: Will Europe be trading one form of dependence for another, just as it tries to move toward more energy independence?
