Seems the United States is now trapped in the same dilemma. It can’t let go of those fat oil profits to embrace the new —but rapidly improving— renewable tech, even if it’s clear that that’s where the market for energy is heading. I.E., the big company (or nation) must sabotage some of their current profit centers in order to remain long term competitive.
(Reposting a comment I made on nytimes article: https://www.nytimes.com/interactive/2025/06/30/climate/china... )
He gives examples of the Dutch and wind power (sailing); Great Britain and coal; and America and petroleum. He also predicted China's ascendency as the next player willing to leverage new technologies.
https://en.wikipedia.org/wiki/The_Rise_and_Fall_of_the_Great...
energy is a time accelerator. You can do more, produce more, using energy.
all of our "wealth" is due to our application of energy. Maintaining and increasing wealth both require energy.
Some people look at the relationship between wealth and energy. And there's more than one way to look at it. I found this interesting for a really big picture perspective.