{"id":7063378,"date":"2026-09-21T20:21:11","date_gmt":"2026-09-21T20:21:11","guid":{"rendered":"https:\/\/peraltafinancing.com\/activist\/the-oil-era-is-ending\/"},"modified":"2026-09-21T20:21:11","modified_gmt":"2026-09-21T20:21:11","slug":"the-oil-era-is-ending","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7063378","title":{"rendered":"The Oil Era Is Ending"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<div id=\"article-title-block_ff0542d549eabab0143c36e86a4371c9\" class=\"article-title \">\n<div class=\"article-title__container\">\n<div class=\"article-title__eyebrow\">\n                            <span class=\"article-title__labels\"><br \/>\n                                        <span class=\"article-title__label\"><br \/>\n                        <a href=\"https:\/\/www.thenation.com\/subject\/environment\/\">Environment<\/a><br \/>\n                    <\/span><br \/>\n                                                                            <\/span><br \/>\n                                    <span class=\"article-title__label-divider\"> \/ <\/span><br \/>\n                                                                            <span class=\"article-title__date\">May 21, 2026<\/span>\n                                    <\/div>\n<div class=\"acf-innerblocks-container\" wp_automatic_readability=\"6\">\n<div class=\"wp-block-the-nation-dek article-title__dek\" wp_automatic_readability=\"32\">\n<p>Is the Iran war a death knell for America\u2019s oil hegemony? <\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<aside aria-hidden=\"true\" class=\"ad-block ad siderail-ad float-r-w-3 break-r-4\">\n<p>                                    <a href=\"http:\/\/www.thenation.com\/advertising-policy\" class=\"ad-policy\" target=\"_blank\">Ad Policy<\/a><br \/>\n                                    <\/aside>\n<figure class=\"wp-block-image alignwide size-full\" wp_automatic_readability=\"2\"><img loading=\"lazy\" decoding=\"async\" width=\"1440\" height=\"907\" src=\"https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL.jpg\" alt=\"\" class=\"wp-image-598076\" srcset=\"https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL.jpg 1440w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-275x173.jpg 275w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-768x484.jpg 768w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-810x510.jpg 810w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-340x215.jpg 340w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-168x106.jpg 168w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-382x240.jpg 382w, https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/05\/OIL-793x500.jpg 793w\" sizes=\"auto, (max-width: 1440px) 100vw, 1440px\"\/><figcaption class=\"wp-element-caption\" wp_automatic_readability=\"4\">\n<p>The ConocoPhillips Oil Refinery is seen in Wilmington, California on April 11, 2026. <\/p>\n<p><span class=\"credits\">(Etienne Laurent \/ AFP \/ Getty Images)<\/span><\/figcaption><\/figure>\n<aside id=\"aside-block-block_35ea2e62d6eca70d7cd3492df2840c5d\" class=\"aside-block  float-l-w-2\">\n    <img decoding=\"async\" style=\"--tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\" src=\"https:\/\/www.thenation.com\/wp-content\/uploads\/2019\/09\/CCN-logo.png\" alt=\"Covering Climate Now logo\"\/><span style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\">This story is part of <\/span><a style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000;\" href=\"https:\/\/coveringclimatenow.org\/\"><span style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000;\">Covering Climate Now<\/span><\/a><span style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\">, a global journalism collaboration cofounded by <\/span><em style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\">Columbia Journalism Review<\/em><span style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\"> and <\/span><em style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\">The Nation<\/em><span style=\"box-sizing: inherit; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; color: #666666;\"> strengthening coverage of the climate story.<\/span><br \/>\n<\/aside>\n<p class=\"is-style-dropcap\">\u201cFuture historians may well see the Iran war as the moment the US unwittingly ceded leadership to China\u201d as the world\u2019s pre-eminent superpower, <a href=\"https:\/\/www.theguardian.com\/us-news\/ng-interactive\/2026\/may\/17\/america-china-energy-oil-renewables\" target=\"_blank\" rel=\"noreferrer noopener\">writes Jonathan Watts<\/a> in a reported essay in <em>The Guardian<\/em> published earlier this week. The piece came out on the heels of Donald Trump\u2019s departure from Beijing after his summit with Chinese president Xi Jinping.<\/p>\n<p>Analysts in Washington have argued for decades over what to do about China\u2019s rise as a global power, but the debate has focused on issues of economic strength and military might. Watts, who spent years in China as a correspondent for <em>The Guardian <\/em>and is now the paper\u2019s global environment writer, instead emphasizes energy: the lifeforce that animates those economies and militaries. \u201cOne of the cornerstones of geostrategic thinking since the start of the Industrial Revolution, 250 years ago, is that the country that controls energy supply controls the world,\u201d he points out. \u201cFor most of the past century, that has centered on oil.\u201d<\/p>\n<p>But the era of oil is ending, Watts contends, as the global economy \u201cshifts from molecules to electrons\u201d\u2014or from burning oil, gas, and coal to generating solar, wind, and other forms of renewable energy. The implications are profound, not least for the chances of limiting global temperature rise to a survivable level.<\/p>\n<p>Watts presents his argument across a broad intellectual canvas, ranging from Britain\u2019s opium wars against China in the 1850s to the gargantuan short-term riches that oil companies are gobbling as the Strait of Hormuz remains blocked to the plummeting costs of clean energy, all which illustrate that the fight to preserve a livable planet cannot be understood outside its social contexts. For journalists, the essay is a reminder that the stories we report about, say, the Iran war or climate change\u2013fueled extreme weather surges are not happening in isolation. They are part of a larger narrative, a narrative that makes them each all the more interesting as news stories.<\/p>\n<p>The core of Watt\u2019s argument is that history demonstrates that when \u201chumankind taps new power supplies, new empires rise and old ones fall.\u201d Today, \u201cBeijing\u2019s bet on renewable power and EVs over the past two decades is paying enormous dividends\u2026buffer[ing] its economy from the gas price shocks caused by the conflict in the Middle East, while opening up huge new export markets for solar panels, wind turbines, smart grids and electric vehicles.\u201d China\u2019s clean energy sector is now worth a staggering $2.2 trillion, bigger than all but seven of the world\u2019s economies.<\/p>\n<p>Yes, Watts notes, China still burns more coal than any other country. But its embrace of renewables (China has more wind turbines than the next 18 countries combined) has meant its annual greenhouse gas emissions have been flat or falling the past two years. Equally important, he says, is the fact that \u201cthe <a href=\"https:\/\/www.iea.org\/reports\/world-energy-investment-2025\/executive-summary\" target=\"_blank\" rel=\"noreferrer noopener\">scale<\/a> of its renewable industry means Beijing has a growing stake in the success of global climate negotiations. Not just because it is good for the planet, but because it makes solid business sense.\u201d<\/p>\n<div id=\"current-issue-block_6fc126f2603f0ab3d2503e8d6f314d28\" class=\"current-issue  float-l-w-2\">\n<h4 class=\"current-issue__title\">\n                    Current Issue<br \/>\n            <\/h4>\n<p>    <a href=\"https:\/\/www.thenation.com\/issue\/october-2026-issue\/\" class=\"current-issue__cover\"><br \/>\n        <img decoding=\"async\" src=\"https:\/\/www.thenation.com\/wp-content\/uploads\/2026\/09\/10-26-Cover_online-1.jpg\" alt=\"Cover of October 2026 Issue\"\/><br \/>\n    <\/a><\/p>\n<\/div>\n<p>Meanwhile, Trump is determined to revive the fossil fuels that powered the US\u2019s own rise to dominance in the 20<sup>th<\/sup> century. The US\u2019s possession of vast oil reserves was a major reason it emerged from World War II not only victorious but incomparably more powerful than its rivals in Europe and Asia. That oil also enabled the post-war construction of suburbs, interstate highways, and car culture that fueled the greatest economic boom in history, strengthening US global supremacy.<\/p>\n<p>But things have changed. Solar and wind technologies now generate \u201cthe cheapest electricity in history,\u201d according to the International Energy Agency, and economies of scale and technological learning curves make it cheaper all the time. Watts is not alone in contending the Iran war has driven another nail in oil\u2019s coffin. IEA executive director Fatih Birol recently said the price spikes and supply interruptions resulting from the war <a href=\"https:\/\/www.theguardian.com\/environment\/2026\/apr\/24\/global-oil-crisis-changed-fossil-fuel-industry-for-ever-iea-chief-fatih-birol\" target=\"_blank\" rel=\"noreferrer noopener\">have forever changed countries\u2019 risk calculations<\/a>, permanently turning them away from oil and gas, and toward more secure, and cheaper, renewables.<\/p>\n<p>China\u2019s intentions are not necessarily \u201cany more benign\u201d than those of other empires, Watts cautions, and \u201cpetro- interests still have political, military and financial might on their side, and they are using that to try to turn back the energy clock.\u201d On the other hand, the devastating impacts of climate change are ever more evident; clean energy is \u201cthe fastest growing, greatest job creating chunk of the global economy,\u201d and \u201cthroughout the world, a huge majority of people want their governments to take stronger action on the climate crisis,\u201d as <a href=\"https:\/\/89percent.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">CCNow\u2019s 89 Percent Project<\/a> has been reporting.<\/p>\n<p>However it unfolds, it\u2019s a tale of high drama, immense stakes, and abundant villains and heroes. In other words, a great story, both for journalists and the public we serve.<\/p>\n<div id=\"article-end-\" class=\"article-end \">\n<div aria-hidden=\"false\" id=\"article-editor-note\" class=\"article-editor-note-1 tn-editor-none-module\" data-nosnippet=\"\" wp_automatic_readability=\"68.765538945712\">\n<div class=\"article-editor-note-blocks\" id=\"editor_note\" wp_automatic_readability=\"60.048780487805\">\n<p><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">Between the reemergence of right-wing red-baiting and Donald Trump\u2019s use of the chilling National Security Presidential Memorandum\u20137 to criminalize left political organizing, we\u2019re seeing McCarthyism reborn before our eyes. <\/span><\/p>\n<p><span style=\"\\&quot;font-size:\" 1rem;=\"\" background-color:=\"\" rgb(255=\"\" 255=\"\" var(--tw-bg-opacity));=\"\" color:=\"\" rgb(0=\"\" 0=\"\" var(--tw-text-opacity));\\\"=\"\">This assault on democracy cannot be ignored or wished away. Resisting it requires bravery in the face of threats and repression, a steadfast commitment to the truth, and the unwavering belief that we can\u2014and will\u2014overcome this darkness.<\/span><\/p>\n<p><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">We must have an independent media that sets the record straight, unearths corruption and abuses of power, and advances a politics of justice and dignity for all if we\u2019re to win this fight.<\/span><\/p>\n<p><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">That\u2019s why I\u2019m writing to you today.<\/span><b> This September, <\/b><b><i>The Nation <\/i><\/b><b>needs to add 100 monthly donors to sustain our progressive journalism. <\/b><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">Your contribution makes the next investigative report, the next truth-speaking column, and the next pathbreaking essay all possible.\u00a0<\/span><\/p>\n<p><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">I hope you\u2019ll support our work with a recurring donation today. If you donate $10 or more a month, we\u2019ll send you a brand new \u201cHands Off the Free Press!\u201d sticker to recognise your commitment to our cause. Please, donate today.\u00a0<\/span><\/p>\n<p><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">Onward,<\/span><\/p>\n<p><span style=\"\\&quot;background-color:\" rgb(255=\"\" 255=\"\" var(--tw-bg-opacity));=\"\" color:=\"\" rgb(0=\"\" 0=\"\" var(--tw-text-opacity));=\"\" font-size:=\"\" 1rem;\\\"=\"\">Katrina vanden Heuvel<br \/><\/span><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">Editor and Publisher, <\/span><i><span style=\"\\&quot;font-weight:\" 400;\\\"=\"\">The Nation<\/span><\/i><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"article-end__authors\">\n<div class=\"article-end__author\" wp_automatic_readability=\"31.774752475248\">\n<h5 class=\"article-end__author-name\">\n                        <a href=\"https:\/\/www.thenation.com\/authors\/mark-hertsgaard\/\">Mark Hertsgaard<\/a><br \/>\n                    <\/h5>\n<p>                                            <a href=\"https:\/\/twitter.com\/markhertsgaard\" class=\"article-end__author-twitter\" target=\"_blank\" rel=\"noopener noreferrer\"><br \/>\n                            <svg width=\"17\" height=\"14\" viewbox=\"0 0 17 14\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n\t<path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M15.2054 3.54558C15.2122 3.6951 15.215 3.84463 15.215 3.99527C15.215 8.58792 11.7194 13.8834 5.32683 13.8834C3.36455 13.8834 1.53779 13.3083 0 12.3221C0.271606 12.354 0.548252 12.3702 0.828257 12.3702C2.45677 12.3702 3.95536 11.8147 5.14483 10.8829C3.62384 10.8543 2.34085 9.84963 1.89844 8.4692C2.11068 8.51008 2.32797 8.53136 2.55253 8.53136C2.87006 8.53136 3.17695 8.48936 3.46815 8.40984C1.87772 8.09008 0.680414 6.68501 0.680414 5.00273C0.680414 4.98705 0.680414 4.97305 0.680414 4.95793C1.14858 5.21833 1.68452 5.37514 2.25461 5.39362C1.32219 4.76921 0.708415 3.7063 0.708415 2.5006C0.708415 1.8633 0.879778 1.26633 1.17882 0.753361C2.89302 2.85621 5.45395 4.23887 8.34249 4.38392C8.28313 4.12967 8.25233 3.86423 8.25233 3.59206C8.25233 1.6729 9.80861 0.117188 11.7278 0.117188C12.7274 0.117188 13.6301 0.539436 14.2641 1.21425C15.0559 1.05913 15.8002 0.769041 16.4716 0.370873C16.2118 1.18289 15.6602 1.86386 14.9428 2.29395C15.6462 2.20939 16.3159 2.02235 16.9392 1.74626C16.4739 2.44292 15.8842 3.05557 15.2054 3.54558Z\" fill=\"#666666\"\/>\n<\/svg><br \/>\n                        <\/a><\/p>\n<div class=\"article-end__author-bio\" wp_automatic_readability=\"36\">\n<p>Mark Hertsgaard is the author of eight books that have been translated into a total of 16 languages, including <em>Big Red\u2019s Mercy: The Shooting of Deborah Cotton<\/em> <em>and a Story of Race in America<\/em> and <em>A Day In the Life: The Music and Artistry of the Beatles<\/em>. He is executive director of the global journalism collaboration Covering Climate Now and the environment correspondent for <em>The Nation<\/em>.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script type=\"58260c841cf23c4ef6b3dc1d-text\/javascript\">\n\t\t!function(f,b,e,v,n,t,s)\n\t\t{if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n\t\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};\n\t\tif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n\t\tn.queue=[];t=b.createElement(e);t.async=!0;\n\t\tt.src=v;s=b.getElementsByTagName(e)[0];\n\t\ts.parentNode.insertBefore(t,s)}(window,document,'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n\t\tfbq('init', '233793277040432');\n\t\tfbq('track', 'PageView');\n\t\t\t\t<\/script><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Environment \/ May 21, 2026 Is the Iran war a death knell for America\u2019s oil hegemony? Ad Policy The ConocoPhillips Oil Refinery is seen in Wilmington, California on April 11, 2026. (Etienne Laurent \/ AFP \/ Getty Images) This story is part of Covering Climate Now, a global journalism collaboration cofounded by Columbia Journalism Review [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7063379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12022],"tags":[13170,1640],"dealstore":[],"offerexpiration":[],"class_list":["post-7063378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-activist","tag-era","tag-oil"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Oil Era Is Ending - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7063378\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Oil Era Is Ending - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Environment \/ May 21, 2026 Is the Iran war a death knell for America\u2019s oil hegemony? 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