By the time Donald Trump leaves office in 2029, this country will be distinctly on the imperial decline amid fast-paced changes that will make electric vehicles universal and solar-powered electricity an economic imperative.
U.S. President Donald Trump speaks alongside coal and energy workers during an executive order signing ceremony in the East Room of the White House on April 8, 2025 in Washington, D.C.
(Photo: Anna Moneymaker/Getty Images)
LONG READ
Alfred W. Mccoy
Nov 28, 2025
Alfred W. Mccoy
Nov 28, 2025
TomDispatch
At the dawning of the British Empire in 1818, the romantic poet Percy Bysshe Shelley penned a memorable sonnet freighted with foreboding about the inevitable decline of all empires, whether in ancient Egypt or then-modern Britain.
In Shelly’s stanzas, a traveler in Egypt comes across the ruins of a once-monumental statue, with “a shattered visage lying half sunk” in desert sands bearing the “sneer of cold command.” Only its “trunkless legs of stone” remain standing. Yet the inscription carved on those stones still proclaims: “My name is Ozymandias, King of Kings: Look on my works, ye Mighty, and despair!” And in a silent mockery of such imperial hubris, all the trappings of that awesome power, all the palaces and fortresses, have been utterly erased, leaving only a desolation “boundless and bare” as “the lone and level sands stretch far away.”
Taken too literally, those verses might lead us to anticipate some future traveler finding fragments of St. Paul’s Cathedral scattered on the banks of the Thames River in London or stones from the Washington Monument strewn in a kudzu-covered field near the Potomac. Shelley is, however, offering us a more profound lesson that every empire teaches and every imperialist then forgets: Imperial ascent begets an inevitable decline.
Imperial Washington
Indeed, these days Donald Trump’s Washington abounds with monuments to overblown imperial grandeur and plans for more, all of which add up to an unconvincing denial that America’s global imperium is facing an Ozymandias-like fate. With his future Gilded Age ballroom meant to rise from the rubble of the White House’s East Wing, his plans for a massive triumphal arch at the city’s entrance, and a military parade of tanks and troops clanking down Constitution Avenue on his birthday, who could ever imagine such a thing? Not Donald Trump, that’s for sure.
In a celebration of his “works” that are supposedly making the “mighty despair” in foreign capitals around the world, his former national security adviser, Robert C. O’Brien, has recently argued in Foreign Affairs that the president’s “policy of peace through strength” is reversing a Democrat-induced decline of U.S. global power. According to O’Brien, instead of crippling NATO (as his critics claim), President Trump is “leading the biggest European rearmament of the postwar era”; unleashing military innovation “to counter China”; and proving himself the “indispensable global statesman by driving efforts to bring peace to… long-standing disputes” in Gaza, the Congo, and, quite soon, Ukraine as well. Even in North America, according to O’Brien, Trump’s attempt to acquire Greenland has forced Denmark to expand its military presence, putting Russia on notice that the West will compete for control of the Arctic.
As it happens, whatever the truth of any of that may be, the policy elements that O’Brien cites are certain to prove largely irrelevant to the ceaseless struggle for geopolitical power among the globe’s great empires. Or, to borrow a favorite Trumpian epithet from the president’s “cornucopia of crudeness,” in the relentless, often ruthless world of grand strategy, none of those factors amounts to a hill of “shit.”
Indeed, O’Brien’s epic catalogue of Trump’s supposed foreign policy successes cleverly avoids any mention of the central factor in the rise and fall of every dominant world power for the past 500 years: energy. While the United States made genuine strides toward a green energy revolution under President Joe Biden, his successor, the “drill, baby, drill” president, has seemed determined not just to destroy those gains, but to revert to dependence on fossil fuels “bigly,” as Trump would say. In a perplexing paradox, President Trump’s systematic attack on alternative energy at home will almost certainly subvert America’s geopolitical power abroad. How and why? Let me explain by dipping my toes in a bit of history.
For the past five centuries, the rise of every global empire has rested on an underlying transformation (or perhaps revolution would be a more accurate word for it) in the form of energy that drove its version of the world economy. Innovation in the basic force behind its rising global presence gave each successive hegemonic power — Portugal, Spain, England, the United States, and possibly now China — a critical competitive advantage, cutting costs and increasing profits. That energy innovation and the lucrative commerce it created infused each successive imperium with intangible but substantial power, impelling its armed forces relentlessly forward and crushing resistance to its rule, whether by local groups or would-be imperial rivals. Although scholars of imperial history often ignore it, energy should be considered, as I argued in my book To Govern the Globe, the determinative factor in the rise and fall of every global hegemon for the past five centuries.
Iberia’s Mastery of Muscle
In the fifteenth century, the Iberian powers — Portugal and Spain — manipulated the ocean winds and maximized the energy output of the human body, giving them new forms of energy that allowed their arid lands and limited populations to conquer much of the globe. By replacing the square sail of lumbering Mediterranean ships with a triangular sail, agile Portuguese vessels like the famed caravela de armada doubled their capacity to tack close to the wind, allowing them to master the world’s oceans.
By 1500, Portuguese warships had navigation instruments that allowed them to cross the widest bodies of water, sails to beat into the strongest headwinds, a sturdy hull for guns and cargo, and lethal cannons that could destroy enemy fleets or breach the walls of port cities. As a result, a small flotilla of Portuguese caravels soon conquered colonies on both sides of the South Atlantic Ocean and seized control of Asian sea lanes from the Red Sea to the Java Sea.
For the next three centuries, such sailing ships would transport 11 million African captives across the Atlantic to work as slaves in a new form of agriculture that was both exceptionally cruel and extraordinarily profitable: the sugar plantation. The output of Europe’s free yeoman farmers was then constrained by the limits of the individual body and the temperate climate’s short six-month growing season. By contrast, enslaved laborers, massed into efficient teams in tropical latitudes, were driven year-round to the brink of death and beyond to extract unprecedented productivity and profits from those plantations. Indeed, even as late as the nineteenth century, the U.S. southern slave plantation was, according to an econometric analysis, 35% more efficient than a northern family farm.
After developing the sugar plantation, or fazenda, as a new form of agribusiness on small islands off the coast of Africa in the fifteenth century, the Portuguese brought that system to Brazil in the sixteenth century. From there, it migrated to European colonies in the Caribbean, making that cruel commerce synonymous with the slave trade for nearly four centuries. So profitable was the slave plantation for its owners that, unlike almost every other form of production, it did not die from natural economic causes but would instead require the full force of the British navy to do it in.
The Dutch Harness the Winds
But the true masters of wind power would prove to be the Dutch, whose technological prowess would allow their small land, devoid of natural resources, to conquer a colonial empire that spanned three continents. In the seventeenth century, the Dutch drive for scientific innovation led them to harness the winds as never before, building sailing ships 10 times the size of a Portuguese caravel and windmills that, among other things, replaced the tedious hand sawing of logs to produce lumber for shipbuilding. With giant sails spanning over 90 feet, a five-ton shaft generating up to 50 horsepower, and several sawing frames with six steel blades each, a windmill’s four-man crew could turn 60 tree trunks a day into uniform planks to maintain the massive Dutch merchant fleet of 4,000 ocean-going ships.
By 1650, the Zaan district near Amsterdam, arguably Europe’s first major industrial area, had more than 50 wind-driven sawmills and was the world’s largest shipyard, launching 150 hulls annually (at half the cost of English-built vessels). Many of these were the Dutch-designed fluitschip, an agile three-masted cargo vessel that cut crew size, doubled sailing speed, and could carry 500 tons of cargo with exceptional efficiency.
Through its commercial acumen and mastery of wind power, tiny Holland defeated the mighty Spanish empire in the Thirty Years War (1618-48), then fought the British to a standstill in three massive naval wars, while building an empire that reached around the world — from the Spice Islands of Indonesia to the city of New Amsterdam on the island of Manhattan.
When Coal Was King
As Holland’s commercial empire began to fade, however, Great Britain was already launching an energy transition to coal-fired steam energy that would leave the wind and muscle power of the Iberian age in the dust of history. And the industrial revolution that went with it would build the world’s first truly global empire.
The Scottish inventor James Watt perfected the steam engine by 1784. Such machines began driving railways in 1825 and the Royal Navy’s warships in the 1840s. By then, an armada of steam engines was transforming the nature of work worldwide — driving sawmills, pulling gang plows, and sculpting the earth’s surface with steam shovels, steam dredges, and steam rollers. Between 1880 and 1900, the number of steam engines in the United States would triple from 56,000 units to 156,000, accounting for 77% of all American industrial power. To fuel that age of steam and steel, Britain’s coal production climbed to a peak of 290 million tons in 1913, while worldwide production reached 1.3 billion tons.
Coal was the catalyst for an industrial revolution that fused steam technology with steel production to make Britain the master of the world’s oceans. From the end of the Napoleonic wars in 1815 until the outbreak of World War I in 1914, tiny Britain with just 40 million people would preside over a global empire that controlled a quarter of all humanity directly through colonies and another quarter indirectly through client states. In addition to its vast territorial empire, Britannia ruled the world’s waves, while its pound sterling became the global reserve currency, and London the financial center of the planet.
America’s Petrol-Powered Hegemony
Just as Britain’s imperial age had coincided with its coal-driven industrial revolution, so Washington’s brand-new world order focused on crude oil to feed the voracious energy needs of its global economy. By 1950, in the wake of World War II, the U.S. petrol-powered economy was producing half the world’s economic output and using that raw economic power for commercial and military dominion over most of the planet (outside the Sino-Soviet communist bloc).
By 1960, the Pentagon had built a nuclear triad that gave it a formidable strategic deterrent, as five nuclear-powered submarines armed with atomic warheads trolled the ocean depths, while 14 nuclear-armed aircraft carriers patrolled the world’s oceans. Flying from 500 U.S. overseas military bases, the Strategic Air Command had 1,700 bombers ready for nuclear strikes.
As American automobile ownership climbed from 40 million units in 1950 to 200 million in 2000, the country’s oil consumption surged from 6.5 million barrels daily to a peak of 20 million. During those same decades, the federal government spent $370 billion to cover the country with 46,000 miles of interstate highways, allowing cars and trucks to replace railroads as the ribs of the nation’s transportation infrastructure.
To drive the carbon-fueled economy of Washington’s world order, there would be a dramatic, five-fold increase in the global consumption of liquid fossil fuels during the last half of the twentieth century. As the number of motor vehicles worldwide kept climbing, crude oil rose from 27% of global fossil-fuel consumption in 1950 to 44% by 2003, surpassing coal to become the world’s main source of energy.
To meet this relentlessly rising demand, the Middle East’s share of global oil production climbed from just 7% in 1945 to 35% in 2003. As the self-appointed guardian of the Persian Gulf whose vast oil reserves represented some 60% of the world’s total, Washington would become embroiled in endless wars in that tumultuous region, from the Gulf War of 1990-91 to its present-day interventions in Israel and Iran.
Whether thanks to Britain’s coal-fired factories or America’s auto traffic, all those carbon emissions were already producing signs of global warming that, by the 1990s, would set alarm bells ringing among scientists worldwide. From the “pre-industrial” baseline of 280 parts per million (ppm) in 1880, carbon dioxide concentrations in the atmosphere kept climbing to 410 ppm by 2018, resulting in the rising seas, devastating fires, raging storms, and protracted droughts that came to be known as global warming.
As evidence of the climate crisis became undeniable, the world’s nations responded with striking unanimity by signing the 2015 Paris Climate Agreement to cut carbon emissions and surge investments into alternative energy that soon yielded significant breakthroughs in both cost and efficiency. Within four years, the International Energy Agency predicted that dramatic drops in the cost of solar panels meant that solar energy would soon be “the new king of the world’s electricity markets.” Indeed, as technology slashed the cost of battery storage and solar panels, the International Renewable Energy Agency reported in 2024 that the solar generation of electricity had become 41% cheaper than fossil fuels, while offshore wind was 53% cheaper — a truly significant disparity that will, as technology continues to slash the cost of solar energy, render the use of coal and natural gas for electricity an economic irrationality, if not an utter absurdity.
In the game of empires, seemingly small margins can have large consequences, often marking the difference between dominance and subordination, success and failure — whether the 35% advantage of enslaved over free labor, the 50% cost advantage for Dutch sailing craft over British ones, and now a 41% savings for solar over fossil fuels. Moreover, the day is fast coming when fossil-fuel electricity will cost more than twice as much as alternative energy from solar and wind power.
To assure America’s economic future, the administration of President Joe Biden began investing trillions of dollars in alternative energy by building battery plants, encouraging massive wind and solar projects, and continuing a consumer subsidy to sustain Detroit’s transition to electric vehicles. In January 2025, however, Donald Trump entered the White House (again) determined to roll back the global green revolution. After quitting the Paris climate accord and labeling climate change a “hoax” or “the green new scam,” President Trump has halted construction of major offshore wind projects, ended the subsidy for electric vehicle purchases, and opened yet more federal lands for coal and oil leases. Armed with extraordinary executive powers and a single-minded determination, he will predictably delay, if not derail, America’s transition to alternative energy, missing market opportunities and undercutting the country’s economic competitiveness by chaining it to overpriced fossil fuels.
China’s Green-Energy Ride to Global Power
While Washington was demolishing America’s green energy infrastructure, Beijing has been working to make China a global powerhouse for alternative energy. Ten years ago, its leaders launched a “Made in China 2025” program to storm the heights of the global economy by becoming the world leader in 10 strategic industries, eight of which involved some aspect of the green-energy transformation, including “new materials,” “high-tech ships,” “advanced railways,” “energy-saving and new energy vehicles,” and “energy equipment.” Those “new materials” include China’s virtual monopoly on rare earth minerals, which are absolutely critical to the manufacturing of the key components for renewable energy — specifically, wind turbines, solar panels, energy storage systems, electric vehicles, and hydrogen extraction. In sum, Beijing is already riding the green energy revolution in a serious bid to become the world’s “leading manufacturing superpower” by 2049, while erasing America’s economic edge and its global hegemony in the bargain.
So, you might ask, have any of those seemingly pie-in-the-sky plans already become an economic reality? Given China’s recent progress in key energy sectors, the answer is a resounding yes.
Under its economic plan, China has already come to dominate the world’s solar power industry. In 2024, it cut the wholesale price of its solar panel exports in half and nearly doubled its exports of panel components. To replace its old export “trio” of clothing, furniture, and appliances, Beijing has mandated a “new trio” of solar panels, lithium batteries, and electric cars. And to put what’s happening in perspective, imagine that, in just the month of May, China installed enough wind and solar energy to power a country as big as Poland, reaching an impressive figure that represents half the world’s “total installed solar capacity.” By 2024, China was already producing at least 80% of the world’s solar panel components, dominating the global market, and undercutting would-be competitors in Europe and the U.S. Driving all that explosive growth, China’s investment in clean energy has reached nearly $2 trillion, representing 10% of its gross domestic product, and has been growing at three times the rate of its overall economy, meaning it would soon account for a full 20% of its entire economy.
With similar determination, its electric vehicles (EVs) are now beginning to capture the global car market. By 2024, 17.3 million electric cars were made worldwide, and China produced 70% of them. Not only are Chinese companies opening massive robotic assembly plants worldwide to crank out such cars by the millions, but they are also making the world’s cheapest and best cars — with the YangWang U9-X hitting a world speed record of 308 miles per hour; BYD’s latest plug-in hybrid models, priced at only $13,700 and capable of traveling a record 1,200 miles on a single charge and single tank of gas; the YangWang U8 with a capacity to literally drive across water; and the Xiaomi SU-7 displaying a high-tech driver interface that makes a Tesla look like a Ford Pinto.
Since an EV is just a steel box with a battery, technology will soon allow low-cost electric vehicles to completely eradicate gas guzzlers, enabling China to conquer the global car market — with full electric cars like the self-driving BYD Seagull sedan already priced at $8,000, models like BYD’s Han with a 5-minute charge time that’s faster than pumping a tank of gas, and sedans like the Nio ET7 with a standard range on a single charge of 620 miles. And most of that extraordinary technological progress has happened in less than four years, essentially the time remaining in Donald Trump’s second term in office.
An Agenda for America’s Economic Future
By discouraging alternative energy and encouraging fossil fuels, President Trump is undercutting America’s economic competitiveness in the most fundamental way imaginable. Amid an historic transformation in the world’s energy infrastructure (comparable in scope and scale to the coal-fired industrial revolution), the United States will spend the next three years under his watch digging coal and burning oil and natural gas, while the rest of the industrial world follows China as it pursues technological innovation to the furthest frontiers of the human imagination. Indeed, the latest annual report from the world’s energy watchdog, the International Energy Agency, states bluntly that the transition away from fossil fuels is “inevitable” as the world, “led by a surge in cheap solar power in… the Middle East and Asia,” installs more green energy capacity in the next five years than it has in the last 40 combined.
By the time Donald Trump leaves office in 2029, this country will be distinctly on the imperial decline amid fast-paced changes that will make electric vehicles universal and solar-powered electricity an economic imperative. And just as the Dutch used energy technology to capture their imperial moment in the seventeenth century, so the Chinese will undoubtedly do the same in this century.
After all, how can the United States produce competitive products, even for domestic consumption (much less export), if our costs for energy, the basic component of every economic activity, become double those of our competitors? Simply put, it won’t be possible.
If, however, when Donald Trump’s term in office is done, this country moves quickly to recover its capacity for economic rationality, it should be able to regain some version of its place in the world economy. For once the United States rejoins the green energy revolution, it can use its formidable engineering ingenuity to accelerate the development of this transformative technology — simultaneously reducing the CO2 emissions that are choking the planet and securing the livelihoods of average American workers in the bargain.
© 2023 TomDispatch.com
Alfred W. Mccoy
Alfred W. McCoy is professor of history at the University of Wisconsin-Madison is the author of "In the Shadows of the American Century: The Rise and Decline of U.S. Global Power". Previous books include: "Torture and Impunity: The U.S. Doctrine of Coercive Interrogation" (University of Wisconsin, 2012), "A Question of Torture: CIA Interrogation, from the Cold War to the War on Terror (American Empire Project)", "Policing America's Empire: The United States, the Philippines, and the Rise of the Surveillance State", and "The Politics of Heroin: CIA Complicity in the Global Drug Trade".
Full Bio >
At the dawning of the British Empire in 1818, the romantic poet Percy Bysshe Shelley penned a memorable sonnet freighted with foreboding about the inevitable decline of all empires, whether in ancient Egypt or then-modern Britain.
In Shelly’s stanzas, a traveler in Egypt comes across the ruins of a once-monumental statue, with “a shattered visage lying half sunk” in desert sands bearing the “sneer of cold command.” Only its “trunkless legs of stone” remain standing. Yet the inscription carved on those stones still proclaims: “My name is Ozymandias, King of Kings: Look on my works, ye Mighty, and despair!” And in a silent mockery of such imperial hubris, all the trappings of that awesome power, all the palaces and fortresses, have been utterly erased, leaving only a desolation “boundless and bare” as “the lone and level sands stretch far away.”
Taken too literally, those verses might lead us to anticipate some future traveler finding fragments of St. Paul’s Cathedral scattered on the banks of the Thames River in London or stones from the Washington Monument strewn in a kudzu-covered field near the Potomac. Shelley is, however, offering us a more profound lesson that every empire teaches and every imperialist then forgets: Imperial ascent begets an inevitable decline.
Imperial Washington
Indeed, these days Donald Trump’s Washington abounds with monuments to overblown imperial grandeur and plans for more, all of which add up to an unconvincing denial that America’s global imperium is facing an Ozymandias-like fate. With his future Gilded Age ballroom meant to rise from the rubble of the White House’s East Wing, his plans for a massive triumphal arch at the city’s entrance, and a military parade of tanks and troops clanking down Constitution Avenue on his birthday, who could ever imagine such a thing? Not Donald Trump, that’s for sure.
In a celebration of his “works” that are supposedly making the “mighty despair” in foreign capitals around the world, his former national security adviser, Robert C. O’Brien, has recently argued in Foreign Affairs that the president’s “policy of peace through strength” is reversing a Democrat-induced decline of U.S. global power. According to O’Brien, instead of crippling NATO (as his critics claim), President Trump is “leading the biggest European rearmament of the postwar era”; unleashing military innovation “to counter China”; and proving himself the “indispensable global statesman by driving efforts to bring peace to… long-standing disputes” in Gaza, the Congo, and, quite soon, Ukraine as well. Even in North America, according to O’Brien, Trump’s attempt to acquire Greenland has forced Denmark to expand its military presence, putting Russia on notice that the West will compete for control of the Arctic.
As it happens, whatever the truth of any of that may be, the policy elements that O’Brien cites are certain to prove largely irrelevant to the ceaseless struggle for geopolitical power among the globe’s great empires. Or, to borrow a favorite Trumpian epithet from the president’s “cornucopia of crudeness,” in the relentless, often ruthless world of grand strategy, none of those factors amounts to a hill of “shit.”
Indeed, O’Brien’s epic catalogue of Trump’s supposed foreign policy successes cleverly avoids any mention of the central factor in the rise and fall of every dominant world power for the past 500 years: energy. While the United States made genuine strides toward a green energy revolution under President Joe Biden, his successor, the “drill, baby, drill” president, has seemed determined not just to destroy those gains, but to revert to dependence on fossil fuels “bigly,” as Trump would say. In a perplexing paradox, President Trump’s systematic attack on alternative energy at home will almost certainly subvert America’s geopolitical power abroad. How and why? Let me explain by dipping my toes in a bit of history.
For the past five centuries, the rise of every global empire has rested on an underlying transformation (or perhaps revolution would be a more accurate word for it) in the form of energy that drove its version of the world economy. Innovation in the basic force behind its rising global presence gave each successive hegemonic power — Portugal, Spain, England, the United States, and possibly now China — a critical competitive advantage, cutting costs and increasing profits. That energy innovation and the lucrative commerce it created infused each successive imperium with intangible but substantial power, impelling its armed forces relentlessly forward and crushing resistance to its rule, whether by local groups or would-be imperial rivals. Although scholars of imperial history often ignore it, energy should be considered, as I argued in my book To Govern the Globe, the determinative factor in the rise and fall of every global hegemon for the past five centuries.
Iberia’s Mastery of Muscle
In the fifteenth century, the Iberian powers — Portugal and Spain — manipulated the ocean winds and maximized the energy output of the human body, giving them new forms of energy that allowed their arid lands and limited populations to conquer much of the globe. By replacing the square sail of lumbering Mediterranean ships with a triangular sail, agile Portuguese vessels like the famed caravela de armada doubled their capacity to tack close to the wind, allowing them to master the world’s oceans.
By 1500, Portuguese warships had navigation instruments that allowed them to cross the widest bodies of water, sails to beat into the strongest headwinds, a sturdy hull for guns and cargo, and lethal cannons that could destroy enemy fleets or breach the walls of port cities. As a result, a small flotilla of Portuguese caravels soon conquered colonies on both sides of the South Atlantic Ocean and seized control of Asian sea lanes from the Red Sea to the Java Sea.
For the next three centuries, such sailing ships would transport 11 million African captives across the Atlantic to work as slaves in a new form of agriculture that was both exceptionally cruel and extraordinarily profitable: the sugar plantation. The output of Europe’s free yeoman farmers was then constrained by the limits of the individual body and the temperate climate’s short six-month growing season. By contrast, enslaved laborers, massed into efficient teams in tropical latitudes, were driven year-round to the brink of death and beyond to extract unprecedented productivity and profits from those plantations. Indeed, even as late as the nineteenth century, the U.S. southern slave plantation was, according to an econometric analysis, 35% more efficient than a northern family farm.
After developing the sugar plantation, or fazenda, as a new form of agribusiness on small islands off the coast of Africa in the fifteenth century, the Portuguese brought that system to Brazil in the sixteenth century. From there, it migrated to European colonies in the Caribbean, making that cruel commerce synonymous with the slave trade for nearly four centuries. So profitable was the slave plantation for its owners that, unlike almost every other form of production, it did not die from natural economic causes but would instead require the full force of the British navy to do it in.
The Dutch Harness the Winds
But the true masters of wind power would prove to be the Dutch, whose technological prowess would allow their small land, devoid of natural resources, to conquer a colonial empire that spanned three continents. In the seventeenth century, the Dutch drive for scientific innovation led them to harness the winds as never before, building sailing ships 10 times the size of a Portuguese caravel and windmills that, among other things, replaced the tedious hand sawing of logs to produce lumber for shipbuilding. With giant sails spanning over 90 feet, a five-ton shaft generating up to 50 horsepower, and several sawing frames with six steel blades each, a windmill’s four-man crew could turn 60 tree trunks a day into uniform planks to maintain the massive Dutch merchant fleet of 4,000 ocean-going ships.
By 1650, the Zaan district near Amsterdam, arguably Europe’s first major industrial area, had more than 50 wind-driven sawmills and was the world’s largest shipyard, launching 150 hulls annually (at half the cost of English-built vessels). Many of these were the Dutch-designed fluitschip, an agile three-masted cargo vessel that cut crew size, doubled sailing speed, and could carry 500 tons of cargo with exceptional efficiency.
Through its commercial acumen and mastery of wind power, tiny Holland defeated the mighty Spanish empire in the Thirty Years War (1618-48), then fought the British to a standstill in three massive naval wars, while building an empire that reached around the world — from the Spice Islands of Indonesia to the city of New Amsterdam on the island of Manhattan.
When Coal Was King
As Holland’s commercial empire began to fade, however, Great Britain was already launching an energy transition to coal-fired steam energy that would leave the wind and muscle power of the Iberian age in the dust of history. And the industrial revolution that went with it would build the world’s first truly global empire.
The Scottish inventor James Watt perfected the steam engine by 1784. Such machines began driving railways in 1825 and the Royal Navy’s warships in the 1840s. By then, an armada of steam engines was transforming the nature of work worldwide — driving sawmills, pulling gang plows, and sculpting the earth’s surface with steam shovels, steam dredges, and steam rollers. Between 1880 and 1900, the number of steam engines in the United States would triple from 56,000 units to 156,000, accounting for 77% of all American industrial power. To fuel that age of steam and steel, Britain’s coal production climbed to a peak of 290 million tons in 1913, while worldwide production reached 1.3 billion tons.
Coal was the catalyst for an industrial revolution that fused steam technology with steel production to make Britain the master of the world’s oceans. From the end of the Napoleonic wars in 1815 until the outbreak of World War I in 1914, tiny Britain with just 40 million people would preside over a global empire that controlled a quarter of all humanity directly through colonies and another quarter indirectly through client states. In addition to its vast territorial empire, Britannia ruled the world’s waves, while its pound sterling became the global reserve currency, and London the financial center of the planet.
America’s Petrol-Powered Hegemony
Just as Britain’s imperial age had coincided with its coal-driven industrial revolution, so Washington’s brand-new world order focused on crude oil to feed the voracious energy needs of its global economy. By 1950, in the wake of World War II, the U.S. petrol-powered economy was producing half the world’s economic output and using that raw economic power for commercial and military dominion over most of the planet (outside the Sino-Soviet communist bloc).
By 1960, the Pentagon had built a nuclear triad that gave it a formidable strategic deterrent, as five nuclear-powered submarines armed with atomic warheads trolled the ocean depths, while 14 nuclear-armed aircraft carriers patrolled the world’s oceans. Flying from 500 U.S. overseas military bases, the Strategic Air Command had 1,700 bombers ready for nuclear strikes.
As American automobile ownership climbed from 40 million units in 1950 to 200 million in 2000, the country’s oil consumption surged from 6.5 million barrels daily to a peak of 20 million. During those same decades, the federal government spent $370 billion to cover the country with 46,000 miles of interstate highways, allowing cars and trucks to replace railroads as the ribs of the nation’s transportation infrastructure.
To drive the carbon-fueled economy of Washington’s world order, there would be a dramatic, five-fold increase in the global consumption of liquid fossil fuels during the last half of the twentieth century. As the number of motor vehicles worldwide kept climbing, crude oil rose from 27% of global fossil-fuel consumption in 1950 to 44% by 2003, surpassing coal to become the world’s main source of energy.
To meet this relentlessly rising demand, the Middle East’s share of global oil production climbed from just 7% in 1945 to 35% in 2003. As the self-appointed guardian of the Persian Gulf whose vast oil reserves represented some 60% of the world’s total, Washington would become embroiled in endless wars in that tumultuous region, from the Gulf War of 1990-91 to its present-day interventions in Israel and Iran.
Whether thanks to Britain’s coal-fired factories or America’s auto traffic, all those carbon emissions were already producing signs of global warming that, by the 1990s, would set alarm bells ringing among scientists worldwide. From the “pre-industrial” baseline of 280 parts per million (ppm) in 1880, carbon dioxide concentrations in the atmosphere kept climbing to 410 ppm by 2018, resulting in the rising seas, devastating fires, raging storms, and protracted droughts that came to be known as global warming.
As evidence of the climate crisis became undeniable, the world’s nations responded with striking unanimity by signing the 2015 Paris Climate Agreement to cut carbon emissions and surge investments into alternative energy that soon yielded significant breakthroughs in both cost and efficiency. Within four years, the International Energy Agency predicted that dramatic drops in the cost of solar panels meant that solar energy would soon be “the new king of the world’s electricity markets.” Indeed, as technology slashed the cost of battery storage and solar panels, the International Renewable Energy Agency reported in 2024 that the solar generation of electricity had become 41% cheaper than fossil fuels, while offshore wind was 53% cheaper — a truly significant disparity that will, as technology continues to slash the cost of solar energy, render the use of coal and natural gas for electricity an economic irrationality, if not an utter absurdity.
In the game of empires, seemingly small margins can have large consequences, often marking the difference between dominance and subordination, success and failure — whether the 35% advantage of enslaved over free labor, the 50% cost advantage for Dutch sailing craft over British ones, and now a 41% savings for solar over fossil fuels. Moreover, the day is fast coming when fossil-fuel electricity will cost more than twice as much as alternative energy from solar and wind power.
To assure America’s economic future, the administration of President Joe Biden began investing trillions of dollars in alternative energy by building battery plants, encouraging massive wind and solar projects, and continuing a consumer subsidy to sustain Detroit’s transition to electric vehicles. In January 2025, however, Donald Trump entered the White House (again) determined to roll back the global green revolution. After quitting the Paris climate accord and labeling climate change a “hoax” or “the green new scam,” President Trump has halted construction of major offshore wind projects, ended the subsidy for electric vehicle purchases, and opened yet more federal lands for coal and oil leases. Armed with extraordinary executive powers and a single-minded determination, he will predictably delay, if not derail, America’s transition to alternative energy, missing market opportunities and undercutting the country’s economic competitiveness by chaining it to overpriced fossil fuels.
China’s Green-Energy Ride to Global Power
While Washington was demolishing America’s green energy infrastructure, Beijing has been working to make China a global powerhouse for alternative energy. Ten years ago, its leaders launched a “Made in China 2025” program to storm the heights of the global economy by becoming the world leader in 10 strategic industries, eight of which involved some aspect of the green-energy transformation, including “new materials,” “high-tech ships,” “advanced railways,” “energy-saving and new energy vehicles,” and “energy equipment.” Those “new materials” include China’s virtual monopoly on rare earth minerals, which are absolutely critical to the manufacturing of the key components for renewable energy — specifically, wind turbines, solar panels, energy storage systems, electric vehicles, and hydrogen extraction. In sum, Beijing is already riding the green energy revolution in a serious bid to become the world’s “leading manufacturing superpower” by 2049, while erasing America’s economic edge and its global hegemony in the bargain.
So, you might ask, have any of those seemingly pie-in-the-sky plans already become an economic reality? Given China’s recent progress in key energy sectors, the answer is a resounding yes.
Under its economic plan, China has already come to dominate the world’s solar power industry. In 2024, it cut the wholesale price of its solar panel exports in half and nearly doubled its exports of panel components. To replace its old export “trio” of clothing, furniture, and appliances, Beijing has mandated a “new trio” of solar panels, lithium batteries, and electric cars. And to put what’s happening in perspective, imagine that, in just the month of May, China installed enough wind and solar energy to power a country as big as Poland, reaching an impressive figure that represents half the world’s “total installed solar capacity.” By 2024, China was already producing at least 80% of the world’s solar panel components, dominating the global market, and undercutting would-be competitors in Europe and the U.S. Driving all that explosive growth, China’s investment in clean energy has reached nearly $2 trillion, representing 10% of its gross domestic product, and has been growing at three times the rate of its overall economy, meaning it would soon account for a full 20% of its entire economy.
With similar determination, its electric vehicles (EVs) are now beginning to capture the global car market. By 2024, 17.3 million electric cars were made worldwide, and China produced 70% of them. Not only are Chinese companies opening massive robotic assembly plants worldwide to crank out such cars by the millions, but they are also making the world’s cheapest and best cars — with the YangWang U9-X hitting a world speed record of 308 miles per hour; BYD’s latest plug-in hybrid models, priced at only $13,700 and capable of traveling a record 1,200 miles on a single charge and single tank of gas; the YangWang U8 with a capacity to literally drive across water; and the Xiaomi SU-7 displaying a high-tech driver interface that makes a Tesla look like a Ford Pinto.
Since an EV is just a steel box with a battery, technology will soon allow low-cost electric vehicles to completely eradicate gas guzzlers, enabling China to conquer the global car market — with full electric cars like the self-driving BYD Seagull sedan already priced at $8,000, models like BYD’s Han with a 5-minute charge time that’s faster than pumping a tank of gas, and sedans like the Nio ET7 with a standard range on a single charge of 620 miles. And most of that extraordinary technological progress has happened in less than four years, essentially the time remaining in Donald Trump’s second term in office.
An Agenda for America’s Economic Future
By discouraging alternative energy and encouraging fossil fuels, President Trump is undercutting America’s economic competitiveness in the most fundamental way imaginable. Amid an historic transformation in the world’s energy infrastructure (comparable in scope and scale to the coal-fired industrial revolution), the United States will spend the next three years under his watch digging coal and burning oil and natural gas, while the rest of the industrial world follows China as it pursues technological innovation to the furthest frontiers of the human imagination. Indeed, the latest annual report from the world’s energy watchdog, the International Energy Agency, states bluntly that the transition away from fossil fuels is “inevitable” as the world, “led by a surge in cheap solar power in… the Middle East and Asia,” installs more green energy capacity in the next five years than it has in the last 40 combined.
By the time Donald Trump leaves office in 2029, this country will be distinctly on the imperial decline amid fast-paced changes that will make electric vehicles universal and solar-powered electricity an economic imperative. And just as the Dutch used energy technology to capture their imperial moment in the seventeenth century, so the Chinese will undoubtedly do the same in this century.
After all, how can the United States produce competitive products, even for domestic consumption (much less export), if our costs for energy, the basic component of every economic activity, become double those of our competitors? Simply put, it won’t be possible.
If, however, when Donald Trump’s term in office is done, this country moves quickly to recover its capacity for economic rationality, it should be able to regain some version of its place in the world economy. For once the United States rejoins the green energy revolution, it can use its formidable engineering ingenuity to accelerate the development of this transformative technology — simultaneously reducing the CO2 emissions that are choking the planet and securing the livelihoods of average American workers in the bargain.
© 2023 TomDispatch.com
Alfred W. Mccoy
Alfred W. McCoy is professor of history at the University of Wisconsin-Madison is the author of "In the Shadows of the American Century: The Rise and Decline of U.S. Global Power". Previous books include: "Torture and Impunity: The U.S. Doctrine of Coercive Interrogation" (University of Wisconsin, 2012), "A Question of Torture: CIA Interrogation, from the Cold War to the War on Terror (American Empire Project)", "Policing America's Empire: The United States, the Philippines, and the Rise of the Surveillance State", and "The Politics of Heroin: CIA Complicity in the Global Drug Trade".
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