Will Donald Trump erase Biden’s anger? Report Ft
Donald Trump could cancel, or drastically modify, the Inflation Reduction Act, Biden's great law for the production of clean technologies in the United States. The ex-president wants to encourage investments in fossil fuels. The in-depth analysis of the Financial Times
Donald Trump plans to dismantle US President Joe Biden's climate law, increase investment in fossil fuels and eliminate regulations aimed at accelerating the transition to electric vehicles if he is elected next year, writes the Financial Times .
Senior campaign officials and advisers to the former president have said he will seek to fundamentally overhaul US climate and energy policy to “maximize fossil fuel production” during his second term. They added that the Inflation Reduction Act – the centerpiece of Biden's economic strategy, with $369 billion in tax breaks and subsidies for clean energy – would be in Trump's sights.
“Some of the prices on some of these credits appear to be massively undervalued,” a senior Trump campaign official told the Financial Times. “We would try to cut a lot of those expenses.”
Republican officials in a second Trump administration would be armed with a mandate to overhaul or abolish government agencies, purge officials, cut spending on clean energy programs and repeal restrictions on the fossil fuel industry, people familiar with the matter said. familiar with the plans.
WHY TRUMP IS AGAINST THE INFLATION REDUCTION ACT
Trump has made no secret of his opposition to the IRA, which he called “the largest tax increase in history,” nor his aversion to green energy. He railed against his successor's climate policies, which he blamed for driving up the price of gasoline and undermining what he claimed was his goal of ensuring the "energy independence" of the United States.
In a recent campaign video, Trump said that US energy is “weak, substandard and unaffordable” because it relies on wind generation. “Windmills rust, they rot, they kill birds,” the former president said.
Interviews with Trump campaign officials and current and former advisers highlight the stark contrast U.S. voters will face next year on climate and energy policies. Biden has promised to rejuvenate industrial areas and reduce emissions by subsidizing green energy, while Trump has vowed to halt this program and eliminate limits on fossil fuel production.
PUSH FOR OIL AND GAS DRILLING
“On day one of the second Trump administration, the President pledged to roll back every single Joe Biden regulation that kills jobs and industries,” said Carla Sands, a Trump adviser and vice president of the Center for Energy and the environment of America First Policy Institute, a conservative think tank.
Sands said Trump would work with congressional leaders to reduce what he called “the big-government, socialist IRA,” to eliminate fuel economy standards for cars and to “end the war on American energy ” which he linked to rising energy and gas prices.
This would include reopening federal lands that have been restricted to oil and gas drilling, Sands added. David Banks, a former Trump adviser who worked on the administration's "vision for energy dominance," said the former president will likely withdraw from the Paris climate accord again, as he did in 2017. Biden he signed up to the agreement on his first day in office.
“In a Trump administration this is almost guaranteed,” Banks said, describing the former president as “a climate skeptic.” “For Trump it is more of an economic and competitiveness concern.”
With polls putting Trump well ahead of his rivals for the Republican nomination — and he recently surpassed Biden in some nationwide polls — conservatives are focusing on developing a coherent set of policies that could be rolled out quickly after the election .
Think-tanks like the Heritage Foundation and the America First Policy Institute have drawn up policy blueprints and assembled teams of former officials in hopes of avoiding a repeat of the chaotic start to Trump's presidency, which included long delays in appointing essential staff to implement political changes.
“You need to have very competent people who are ready to go right from the start,” said Rick Perry, the former Texas governor who served as energy secretary under Trump from 2017 to 2019. “I'm talking about people who will knock at the agencies door the day after the election and they will basically start the process, which didn't happen in 2016.”
Project 2025, a 920-page conservative policy blueprint from the Heritage Foundation, calls for the elimination of several Energy Department agencies central to Biden's climate agenda, including the Office of Loan Programs, which is providing $400 billion dollars to help industries decarbonize, the Office of Energy Efficiency and Renewable Energy, and the Clean Energy Corps.
THE NECESSARY STEPS TO ERASE THE IRA
Trump's proposal to overhaul climate and energy policy has alarmed Democrats and environmentalists. “Another Trump term would threaten our democracy, set back the climate progress we are making at home, and strengthen the hand of climate deniers around the world,” said Kevin Curtis, executive director of the NRDC Action Fund, an advocacy group environmental defense.
Repealing the IRA would require an act of Congress. The law has won broad industry support, with green energy developers hailing it as a transformative effort that will spur investment in new clean, renewable energy industries across the United States.
Critics, including EU politicians, have argued that the subsidies amount to protectionism and raise energy costs, disrupt global supply chains and exacerbate inflation. Most of the investment for projects under the IRA went to Republican districts across the country.
Brouillette, who succeeded Perry as energy secretary, said Trump may prove more moderate than some activists fear, adding that any incoming Republican president will likely recognize that the "good" parts of the IRA should be retained. “There are incentives in the IRA to continue the development of nuclear energy…”. I would say these policies are completely in line with Trump's policies and I would see them continuing,” he said.
Ammar Moussa, a spokesman for Biden's reelection campaign, said U.S. oil production had "reached a record high," surpassing Trump levels. “If Maga [Make America Great Again] Republicans really cared about the energy independence of the United States, they would support President Biden's agenda,” Moussa said.
(Extract from the eprcomunicazione press review)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/donald-trump-inflation-reduction-act/ on Sat, 25 Nov 2023 06:49:07 +0000.