Energy Secretary Claims Trump is Undermining Biden’s Electricity Policies
Palantir Technologies head of defense Mike Gallagher joins Varney & Co. to warn that the U.S. risks losing the AI cold war to Communist China. He urges an all-out push on energy, defense, and innovation to maintain America’s lead.
Energy Secretary Chris Wright stated on Sunday that the Trump administration’s energy policies are set to lower electricity prices throughout the president’s term. This initiative is part of the White House’s broader efforts to address affordability concerns among Americans.
During his appearance on “Fox News Sunday with Shannon Bream,” Wright explained to guest host Jacqui Heinrich that President Donald Trump’s policies are reversing the detrimental actions taken by former President Joe Biden, which negatively impacted electricity costs.
“We’re doing everything we can to stop that rise in electricity prices that was driven by Biden policies, and yes, there’s inertia that continues on,” Wright remarked. “But very soon, you’ll see a stop to the rise of electricity prices. With the continuation of Trump policies focused on energy addition, you will see declines in electricity prices later this term,” he added.
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Energy Secretary Chris Wright said on Fox News Sunday that the Trump administration will lower electricity prices over the president’s term. (Al Drago/Bloomberg via Getty Images)
The Bureau of Labor Statistics’ latest consumer price index (CPI) report indicated that in September, electricity prices rose by 5.1% compared to the previous year, despite a 0.5% decrease on a monthly basis.
Increased demand for electricity from data centers powering artificial intelligence (AI) tools has contributed to the surge in electricity prices, prompting a push to diversify energy sources.
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Rising power demand from AI has pushed electricity prices higher. (Joe Raedle/Getty Images)
“I believe President Trump’s pro-energy policies have been effective in gasoline, diesel, and other fuels,” Wright stated. “However, the electricity sector is complex. For four years, the Biden administration shut down coal and natural gas plants. I was recently in Washington state, where there were plans to dismantle four hydroelectric dams. We’ve halted the closure of coal plants, and more updates will come later this week,” he continued.
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Four dams on the Lower Snake River in Washington, including the Lower Granite Dam, were being considered for removal under the Biden administration. (Don and Melinda Crawford/UCG/Universal Images Group via Getty Images)
This summer, the Energy Department withdrew from a Biden-era policy memorandum that had advanced the possibility of breaching four hydroelectric dams on the Snake River in Washington. These dams provide over 3,000 megawatts of hydroelectric power, enough to supply power to 2.5 million American homes.
The Trump administration raised concerns that removing these dams “would have doubled the region’s risk of power shortages, driven wholesale electricity rates up by as much as 50%, and cost as much as $31.3 billion to replace.”
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While the Biden administration was considering the removal of the dams as part of a memorandum of understanding, the ultimate decision would rest with Congress.
Palantir Technologies head of defense Mike Gallagher joins Varney & Co. to warn that the U.S. risks losing the AI cold war to Communist China. He urges an all-out push on energy, defense, and innovation to maintain America’s lead.
Energy Secretary Chris Wright stated on Sunday that the Trump administration’s energy policies are set to lower electricity prices throughout the president’s term. This initiative is part of the White House’s broader efforts to address affordability concerns among Americans.
During his appearance on “Fox News Sunday with Shannon Bream,” Wright explained to guest host Jacqui Heinrich that President Donald Trump’s policies are reversing the detrimental actions taken by former President Joe Biden, which negatively impacted electricity costs.
“We’re doing everything we can to stop that rise in electricity prices that was driven by Biden policies, and yes, there’s inertia that continues on,” Wright remarked. “But very soon, you’ll see a stop to the rise of electricity prices. With the continuation of Trump policies focused on energy addition, you will see declines in electricity prices later this term,” he added.
FEDERAL JUDGE STRIKES DOWN TRUMP EXECUTIVE ORDER BLOCKING WIND ENERGY PROJECTS
Energy Secretary Chris Wright said on Fox News Sunday that the Trump administration will lower electricity prices over the president’s term. (Al Drago/Bloomberg via Getty Images)
The Bureau of Labor Statistics’ latest consumer price index (CPI) report indicated that in September, electricity prices rose by 5.1% compared to the previous year, despite a 0.5% decrease on a monthly basis.
Increased demand for electricity from data centers powering artificial intelligence (AI) tools has contributed to the surge in electricity prices, prompting a push to diversify energy sources.
TRUMP AND NYC’S NEW SOCIALIST MAYOR CALL FOR CON EDISON TO LOWER RATES, CAUSING STOCK DROP
Rising power demand from AI has pushed electricity prices higher. (Joe Raedle/Getty Images)
“I believe President Trump’s pro-energy policies have been effective in gasoline, diesel, and other fuels,” Wright stated. “However, the electricity sector is complex. For four years, the Biden administration shut down coal and natural gas plants. I was recently in Washington state, where there were plans to dismantle four hydroelectric dams. We’ve halted the closure of coal plants, and more updates will come later this week,” he continued.
AMERICA’S AI DOMINANCE DEPENDS ON WINNING THE ‘POWER RACE’ AGAINST CHINA, ENERGY EXPERT WARNS
Four dams on the Lower Snake River in Washington, including the Lower Granite Dam, were being considered for removal under the Biden administration. (Don and Melinda Crawford/UCG/Universal Images Group via Getty Images)
This summer, the Energy Department withdrew from a Biden-era policy memorandum that had advanced the possibility of breaching four hydroelectric dams on the Snake River in Washington. These dams provide over 3,000 megawatts of hydroelectric power, enough to supply power to 2.5 million American homes.
The Trump administration raised concerns that removing these dams “would have doubled the region’s risk of power shortages, driven wholesale electricity rates up by as much as 50%, and cost as much as $31.3 billion to replace.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
While the Biden administration was considering the removal of the dams as part of a memorandum of understanding, the ultimate decision would rest with Congress.
