Commodities tied to clean energy and electrification showed resilience in 2024, despite the global manufacturing slowdown and Trump’s roll back of “green” agenda items.

On the first day of his Presidency, Donald Trump declared an “energy emergency”. It is part of a raft of measures to boost America’s already colossal fossil fuel production, backed up by claims that the country needs to tackle high energy prices and prepare for increased demand from “the next generation of technology”.

On his inauguration day, Trump declared a “national energy emergency,” citing the soaring demand for data centers and digital infrastructure as one crucial factor in his decision. According to the Department of Energy, data centers are expected to consume between 6.7 percent and 12 percent of total US electricity by 2028.

The president said he’d declare an energy emergency, increase drilling and end support for electric cars. His pivot to oil and gas follows the hottest year in recorded history.

U.S. oil prices were down by more than $1 a barrel in early Asian trading on Tuesday from Friday's close after President Donald Trump took office and announced a plan to maximise U.S. oil and gas production by declaring a national emergency.

In his first hours in the White House, President Trump ordered the government to resume processing LNG export permits, reversed actions to close parts of Alaska and federal

Legal experts said the president was testing the boundaries of executive power with aggressive orders designed to stop the country from transitioning to renewable energy.