What Trump’s Tariffs Could Mean for Your Utility Bill
Gordon, now CEO of California Forward, a group pressing for more sustainable and resilient economic development in that state, agrees. “One hundred percent, we should be thinking about different models of business and ownership,” she says, noting that by law corporations are obligated to make profits for their shareholders. “All the net-zero pledges and all the great statements are just noise because that’s not their legal obligation.” Whether through public ownership, employee ownership, or community benefits agreements, public goods like energy will increasingly require more innovative institutions. “I actually do really think we need to have that conversation,” Gordon says, “because this feels very tenuous, relying on the private sector, when it’s not their obligation.”
One solution that’s not viable is “Drill, baby, drill”—the petrostate rallying cry Trump repeatedto cheering supporters in festivities surrounding his inauguration. The haunting recent images of Los Angeles burning and the hurricanes battering North Carolina show how urgently we need to move away from fossil fuels. In any case, even oil and gas executives don’t think more domestic drilling makes economic sense; they won’t do it without higher gas prices.
The erratic nature of Trump’s announcement—when he announced the tariffs Thursday, he essentially asked for an extension on the homework question of whether oil was included—is in character. Just a few days ago, millions lost access to their Medicaid because of a freeze on all federal funding that has since been walked back. This is a chaotic government and will continue to be so. Historically, arguments for localized energy sources have implied that it is too risky to depend on the global market because of political instability in the Middle East and elsewhere. Now it’s clear that the political instability is here at home, and our energy profiteers are only going to add to the problem. Our winters are cold, and our summers are increasingly hot. We will need policy that ensures our energy security without exacerbating these challenges by adding to climate change.