POLICY BRIEF: 1/2025

Introduction

The statement “the liquid gold beneath our feet will make the US a rich nation again”, echoed by
President Trump during his inaugural address on 20 January 2025 reflects a long-standing belief in the
economic power of fossil fuels, particularly oil and natural gas. Historically, oil wealth has fuelled the
industrial expansion, geopolitical influence and national prosperity of resource-rich nations, sparked
economic booms and transformed entire industries. In this day and age of climate awareness and the
energy transition, however, this perspective must be critically scrutinised. While fossil fuels remain an
important driver of economic activity, their long-term sustainability is increasingly being questioned due
to their environmental impact and the need for a more balanced and diversified approach to energy.
This issue is particularly pressing given the impact on global climate change and economic development
in Africa, where energy access, climate resilience and economic development are closely intertwined.

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