David Middleton's “is right, but for wrong reasons”
Citi Group still has ESG analysts? That is so 2021. In other words, they are correct. President Trump cannot stop what happened. To some extent, “transition” occurred from coal to natural gas. This is not a real transition. Both are carbon -based fossil fuels with high energy density; it is more energy cleaning, not transition.
Although coal may exceed renewable energy (wood) in the late 1800s, we have never transitioned from consumed wood to energy.
There is absolutely no evidence that the transition from fossil fuel to renewable energy (indisputable).
In 1949, there was no nuclear power generation, and renewable energy was very limited to hydropower and wood. From 1949 to 2023, the total energy output of the United States doubled. To some extent, fossil fuels are displaced, mainly nuclear energy. Despite $ billions of dollars subsidies, the share of renewable energy has almost 6 % to 8 %.
| Year | Fossil fuel | nuclear | Renewal energy | Energy Production (QUADS) |
| 1949 | 94 % | 0 % | 6 % | 30.61 |
| 2023 | 84 % | 8 % | 8 % | 102.78 |
This is very interesting:
According to analysts, compared with President Trump's first entering the White House in 2017, the progress of energy transition has progressed and is now more advanced.
Oilprice.com
Really?
I am not an ESG analyst, but my math in the world is very small:
| Year | Fossil fuel | nuclear | Renewal energy | Energy Production (QUADS) |
| 2017 | 81 % | 10 % | 9 % | 84.36 |
| 2023 | 84 % | 8 % | 8 % | 102.78 |
Since 2017, the growth of US energy production has been almost driven by crude oil and natural gas.
Energy transition …
Fossil fuel …
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