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224 points zekrioca | 1 comments | | HN request time: 0s | source
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marcus_holmes ◴[] No.45342085[source]
The argument I've seen on Mastodon that seems to make sense to me, is that the US Dollar is the currency used in oil trading. That brings a lot of foreign currency to the USA, because people need to buy dollars to buy their oil. If the world moves away from oil, then the US economy will stop benefitting from this trade.

Of course, if the rest of the world moves to renewables, which it is, and just the USA remains reliant on oil then that also destroys this benefit. But the USA refusing to help implement renewable energy will definitely slow it down.

It's the only rational argument I can see for this policy. Of course there's the irrational to consider ("real men burn stuff" as Cory Doctorow puts it), and that may be the more important consideration.

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hollerith ◴[] No.45342106[source]
The problem with that argument is that the dollar is just as important in the international trade of other goods like solar panels and batteries as it is in the trade of oil.
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1. marcus_holmes ◴[] No.45344433[source]
If I want to buy solar panels, I'm probably buying from China, and there's a range of currencies I can use for that. USD is definitely one of them, for sure, but it's not the only one.