Short-Term Fossil Fuel Gains Are a Setback for US Health and Economic Growth
Fossil Fuel Profits Today Could Fuel Job Loss and Health Crises Tomorrow
Last week, a Wall Street Journal front-page article titled: The Fossil Fuel Industry Gets Its Revenge on Green Activists (March 20) by Benoît Morenne, a reporter whose beat including fracking and the natural gas export industry, captures a dangerous shift in America’s energy and environmental policy — prioritizing immediate economic gains over long-term health and resilience. The rapid expansion of fossil-fuel projects, made possible by regulatory rollbacks, isn’t just a blow to environmental progress — it directly threatens public health and economic stability.
The International Energy Agency (IEA) has long warned that continued reliance on fossil fuels will deepen the severity of climate-related disasters, which have cost the US economy $165 billion in damages in 2022 alone. Fossil fuel dependence exposes the US to global market instability, where geopolitical conflicts and supply chain disruptions can drive price spikes and economic uncertainty.
Put Aside Politics — Focus on Economic Strategy
This isn’t a battle between pro-green and anti-environmental forces — between gas pumps or electric ports — it’s about whether the US will lead or lag in the next wave of global economic growth. The global energy transition is already underway, with the International Renewable Energy Agency (IRENA) projecting that renewable energy could generate some 42 million jobs worldwide by 2050 — more than double today’s levels. Meanwhile, BloombergNEF reports that global investment in renewable energy reached a record $1.77 trillion in 2023, surpassing investment in fossil fuels for the first time.
There are bona fide concerns about job erosion in the US job market. A 2020 Economic Policy Institute (EPI) study estimated that the clean energy transition could displace around 200,000–250,000 jobs from fossil fuel industries in the next decade. However, those numbers depend on policy implementation, how quickly the shift to renewables occurs, and how many displaced people will transition into the higher-paying renewable energy sector.
Investing in renewable energy isn’t only about reducing emissions; it also protects this nation’s economic resilience. Clean energy infrastructure creates jobs, strengthens energy independence, and positions the US as a leader in the global economy. According to the US Department of Energy, clean energy jobs already outnumber fossil fuel jobs by nearly 3 to 1, and renewable energy sectors have been among the fastest-growing segments of the labor market, supported mainly by a forward-minded government. Continuing this momentum would increase American competitiveness while reducing the financial and health burdens tied to fossil fuel pollution.
Even newly minted unelected political leaders, such as Elon Musk, who is a dominant presence in the White House Oval Office, question a singular fossil-fuel approach. The unpredictable Musk, a long-time fan of the electric car who reveled in having five Telsa models featured on the White House South Lawn, has consistently commented on prioritizing clean energy during a TED Talk more than a decade ago:
“Something most people know but don’t realize they know is that the world is almost entirely solar-powered already. If the sun wasn’t there, we’d be a frozen ice ball at 3 degrees Kelvin. The sun powers the entire system of precipitation. The whole ecosystem is solar-powered.” — Ted Talk, February 23, 2013
Framing this development as a “win” for the fossil fuel industry on the front page of the Wall Street Journal reflects a narrow and misguided view of American (and world) progress. Authentic leadership lies in recognizing that health, environmental sustainability, and economic strength are interconnected.
The Lancet Countdown on Health and Climate Change confirms that air pollution from fossil fuels contributes to more than eight million premature deaths annually worldwide — including hundreds of thousands in the US. Poor air quality increases emergency room visits, strains health-system infrastructure and undermines workforce productivity, adding hundreds of billions to annual health costs and lost economic output.
The path forward need not be hazy. It is not an either-or decision. Policymakers — from both sides of the aisle must align energy policy with health and economic priorities. Longer-term health cannot be treated as collateral damage in pursuing short-term profits. Regarding economic and public health, America’s global leadership depends on sustainable energy innovation. The global economy is moving toward a sustainable future. America’s future strength should be at the leading edge of that transition — not clinging to the fumes of a fading industry.
