President Trump addressed energy policy and international comparisons during his January 21, 2026, speech at the World Economic Forum in Davos, asserting that his 2024 landslide election victory spared the United States from the severe energy crises affecting Europe. Trump stated, “Because of my landslide election victory, the United States avoided the catastrophic energy collapse which befell every European nation that pursued the Green New Scam — perhaps the greatest hoax in history.”

Trump characterized green energy policies, including measures associated with the Green New Deal, as misguided initiatives that have undermined European energy production and driven up costs. He cited Germany’s electricity output decline of 22% since 2017 and skyrocketing energy prices, which have risen 139% in recent years, as examples of the consequences of relying heavily on renewable mandates while restricting traditional energy sources.

European energy shortages are tied in part to the 2022 Russia-Ukraine conflict, which curtailed Russian gas imports by roughly 75% through 2025. This disruption forced many European nations to rely more heavily on U.S. liquefied natural gas (LNG) supplies, even as domestic production fell. The United Kingdom, for example, now produces roughly one-third of its 1999 North Sea output, underscoring long-term structural vulnerabilities in Europe’s energy system. Forecasts for 2026 suggest some easing of prices but highlight persistent risks amid the transition to renewable energy and reliance on imported fuel.

Trump’s remarks framed U.S. energy policy under his administration as a stark contrast to Europe’s experience, emphasizing domestic production, energy independence, and market stability. Analysts note that his comments aim to reinforce the administration’s America First approach while criticizing international reliance on policies he deems ineffective or harmful.

The speech underscores the broader geopolitical and economic consequences of energy policy decisions, with Trump positioning the United States as a secure energy leader amid ongoing European challenges.