In a recent interview with FOX Business at the Alliance for Responsible Citizenship (ARC) conference in London, Bjorn Lomborg, president of the Copenhagen Consensus Center, discussed the new direction of U.S. energy policy under President Trump. Just one month into his presidency, Trump has initiated significant changes, particularly in the energy sector, which is crucial for economic prosperity. The administration aims to boost energy production while addressing climate change concerns through smarter funding and innovation. This approach contrasts with previous policies that saw a decline in federal land drilling permits. Lomborg emphasized the need for affordable energy, especially for developing nations, and highlighted challenges faced by Europe in transitioning to green energy.

The formation of the National Energy Dominance Council by the White House signifies a strategic shift towards increasing energy output and reducing bureaucratic hurdles. According to Lomborg, this move will help unleash American energy potential. However, he also stressed the importance of tackling climate change issues. To achieve this, Lomborg suggested reallocating funds more efficiently to foster innovations that can ultimately mitigate climate impacts. He proposed an investment of around $30 billion, describing it as a minor but impactful figure in the broader context of energy development.

Lomborg expressed reservations about the slogan "drill baby drill," noting that it could alienate voters. Instead, he advocated for a focus on the fundamental role of energy in driving global progress. For many developing countries, cheap and accessible energy remains essential for economic growth. Fossil fuels continue to be a primary source due to their lower costs compared to green technologies. Lomborg envisioned a future where advanced nuclear power could become more cost-effective than fossil fuels, thereby attracting broader international support for cleaner energy solutions.

Europe's energy policies have faced challenges, particularly in Germany and the United Kingdom. Despite ambitious goals to transition rapidly to renewable energy, Germany's reliance on fossil fuels has remained nearly unchanged over the past decade. Meanwhile, the UK has experienced a threefold increase in electricity prices since 2003, posing significant economic burdens. Lomborg warned that higher energy costs could drive industries away from Europe to more cost-effective regions like China and India.

Lomborg also addressed the United Nations' push for net-zero emissions by 2050, expressing skepticism about its feasibility and potential economic damage, especially for poorer nations. He supported a more pragmatic approach, advocating for smarter strategies to address climate change without crippling economies. Ultimately, Lomborg sees Trump's new energy policy as a step towards a more balanced and innovative path, emphasizing the need for sustainable and economically viable solutions.