Biden Administration Cancels $30B in Green Energy Loans
Center for Industrial Progress founder Alex Epstein blames renewable energy initiatives for holding back reliable and affordable electricity on ‘The Bottom Line.’
The Trump administration is making significant changes to the energy landscape by canceling nearly $30 billion in green loans initiated under the Biden administration. Additionally, another $53 billion is under revision.
The Energy Department’s Office of Energy Dominance Financing (EDF) has labeled these funds as part of the “Green New Scam loans” from the previous administration. Energy Secretary Chris Wright stated, “Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars.”
MINNESOTA FRAUD SCANDAL SPARKS PUSH TO SCRUTINIZE BILLIONS IN BIDEN-ERA ENERGY GRANTS
Energy Secretary Chris Wright announced the cancellation of $30 billion in green loans from the Biden era. (Getty)
“We found more dollars were rushed out the door of the Loan Programs Office in the final months of the Biden Administration than had been disbursed in over fifteen years,” Wright added. “President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy.”
The department has also reported eliminating about $9.5 billion in financing for wind and solar projects, opting instead for investments in natural gas and nuclear updates to enhance energy affordability.
US FEDERAL AGENCIES TO ‘UNLEASH’ COAL ENERGY AFTER BIDEN ‘STIFLED’ IT: ‘MINE, BABY, MINE’
President Donald Trump and former President Joe Biden. (Getty Images)
The Trump administration’s actions have led to the cancellation of funding for numerous green projects initiated during the Biden era. In October, nearly $8 billion in grants supporting hundreds of clean energy projects across 16 states were also canceled.
At that time, the Energy Department halted 223 projects after conducting a “thorough, individualized review.” Wright emphasized, “President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy. Today’s [cancellations] deliver on that commitment. Rest assured, the Energy Department will continue reviewing awards to ensure that every dollar works for the American people.”
FOX Business’ Kelly Saberi talks with Secretary of Energy Chris Wright as the administration looks to repeal Biden-era energy rules.
The EDF currently holds over $289 billion in loan authority to finance projects such as nuclear reactors and other priorities of the Trump administration. FOX Business has reached out to the Energy Department for further details.
Center for Industrial Progress founder Alex Epstein blames renewable energy initiatives for holding back reliable and affordable electricity on ‘The Bottom Line.’
The Trump administration is making significant changes to the energy landscape by canceling nearly $30 billion in green loans initiated under the Biden administration. Additionally, another $53 billion is under revision.
The Energy Department’s Office of Energy Dominance Financing (EDF) has labeled these funds as part of the “Green New Scam loans” from the previous administration. Energy Secretary Chris Wright stated, “Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars.”
MINNESOTA FRAUD SCANDAL SPARKS PUSH TO SCRUTINIZE BILLIONS IN BIDEN-ERA ENERGY GRANTS
Energy Secretary Chris Wright announced the cancellation of $30 billion in green loans from the Biden era. (Getty)
“We found more dollars were rushed out the door of the Loan Programs Office in the final months of the Biden Administration than had been disbursed in over fifteen years,” Wright added. “President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy.”
The department has also reported eliminating about $9.5 billion in financing for wind and solar projects, opting instead for investments in natural gas and nuclear updates to enhance energy affordability.
US FEDERAL AGENCIES TO ‘UNLEASH’ COAL ENERGY AFTER BIDEN ‘STIFLED’ IT: ‘MINE, BABY, MINE’
President Donald Trump and former President Joe Biden. (Getty Images)
The Trump administration’s actions have led to the cancellation of funding for numerous green projects initiated during the Biden era. In October, nearly $8 billion in grants supporting hundreds of clean energy projects across 16 states were also canceled.
At that time, the Energy Department halted 223 projects after conducting a “thorough, individualized review.” Wright emphasized, “President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy. Today’s [cancellations] deliver on that commitment. Rest assured, the Energy Department will continue reviewing awards to ensure that every dollar works for the American people.”
FOX Business’ Kelly Saberi talks with Secretary of Energy Chris Wright as the administration looks to repeal Biden-era energy rules.
The EDF currently holds over $289 billion in loan authority to finance projects such as nuclear reactors and other priorities of the Trump administration. FOX Business has reached out to the Energy Department for further details.
