A year ago, the American electorate commenced a process that returned Donald Trump to the White House. One does not have to be a diehard supporter of the MAGA movement or a hair-pulling, frustrated critic to accept that few, if any, heads of state have had such a convulsive impact on the international order in their first year of office. The question is whether this impact is temporary and transitional or enduring and structural.

In the context of energy, there are four structural developments that, whilst not initiated by Trump, have been influenced by his transactional style of government.

The first relates to critical minerals. These have been traded for decades without commentary. It is only since Trump “weaponised” tariffs and China (which has a stranglehold on these commodities) re

See Full Page