By Paul Heriard Dubreuil, Year 10
As you all know, the Donald Trump administration has been trying to slow down the development of sustainable solutions. Notably, there was a deal involving TotalEnergies, a major French energy company. Around one billion dollars was reportedly given in exchange for not building two offshore wind farms near New York and North Carolina. Instead, the company was expected to reinvest the money into gas infrastructure.
Another example is that Trump has proposed eliminating the electric vehicle (EV) mandate, including removing subsidies that support EVs over other technologies. In simple terms, this would mean removing government targets and financial support for electric cars. This suggests that his vision does not prioritize sustainable solutions.
At the same time, rising geopolitical tensions have had major consequences. A conflict involving Iran led to a blockade of the Strait of Hormuz, a key route through which around 20% of global oil supply passes.
As a result, oil prices increased sharply, reaching around $104 per barrel, compared to $54 in December. Many countries have introduced measures to deal with the shortage of petroleum. The most affected countries are in Southeast Asia, where a large proportion of oil imports pass through this route. For example, the Philippines declared an “energy emergency” and introduced a four-day working week for some government employees in response to the situation.
All of this has had a surprising effect: the sales of both new and used electric cars have surged.
Due to high fuel prices, many consumers have started to prefer electric vehicles. People are trying to protect themselves from rising petrol costs. For instance, La Centrale, one of France’s largest car marketplaces, reported that searches for electric vehicles increased by 160% between the start of March and the start of April. Furthermore, figures from the Society of Motor Manufacturers and Traders show that in March, battery electric car registrations reached 86,120. This represents a 24.2% increase compared to the same month last year, a record high.
For the car industry—especially manufacturers that have tried to reduce their electric vehicle targets—the key question is whether this increase in demand will last. This crisis may have changed how consumers think, making them more aware of the real cost of oil.
The important question now is: as major American and European companies reduce their investments in electric vehicles, will this crisis be enough to change their strategy?
