President Donald Trump has signed a new executive order aimed at terminating federal subsidies for energy sources controlled by foreign entities, specifically targeting wind and solar power. The White House stated that the move seeks to end market-distorting subsidies for what it describes as unreliable and expensive renewable energy sources. The order also intends to remove regulations that prioritize wind and solar energy over other sources. Officials cited concerns about the sustainability of the grid and the reliance on foreign adversaries as reasons for the policy shift. The executive order represents a significant policy change in federal energy subsidies, focusing on reducing financial support for green energy sectors that have faced market volatility.
Trump admin moves to wipe offshore wind off the the map… literally BOEM Rescinds All Offshore Wind Energy Areas in Major Policy Reversal https://t.co/BsQ3Qoq4b9
BOEM Rescinds All Offshore Wind Energy Areas in Major Policy Reversal https://t.co/kJ6WToZI4L
VARNEY: I thought we needed all forms of energy, including wind, to power AI. But it looks like the administration is killing the entire wind industry. Is it? BURGUM: We're ending the last 33 years of highly subsidized preferential treatment for certain forms of energy, https://t.co/HLwdbwSSyo