Fox Business Kelly Saberi speaks with Energy Minister Chris Wright, as the administration is looking to cancel the energy rules dating back to the Biden era.
The Trump administration has canceled $ 3.7 billion of grants to climate infrastructure projects, which was previously approved President Joe Biden The lame duck after losing the 2024 elections.
Energy Minister Chris Wright announced this on Friday and said that the 24 projects failed to enhance the energy needs of the American people, and were not economically viable and will not generate a positive return on investing taxpayers dollars.
The administration said that after a “comprehensive and individual financial review for each award”, I found that approximately 70 % of the awards (16 out of 24 projects) were signed between the election day on November 5 and the last day of his post on January 20.
Energy Minister Chris Wright announced on Friday and said that the 24 projects failed to enhance the energy needs of the American people, and were not economically viable and will not generate a positive return on the Dolla taxpayer investment (Al Drao / Bloomberg via Getty Images / Getty Images)
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Grants are mainly granted to programs to capture and store carbon emissions under the ground. Other targeted efforts extend cleaner cement, natural gas and more. The news comes at a time when Trump is seeking to dismantle the spaces of Biden’s policies On the climate And clean energy.
“While the previous administration has failed to conduct a comprehensive financial review before signing billions of taxpayers, the Trump administration is doing our due care to ensure that we use taxpayers’ money to enhance our national security, and to enhance reliable and reliable energy sources and projects that provide their highest levels of investment.” “Today, we are in the interest of the American people by canceling these 24 awards.”
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The discounts include approximately $ 332 million withdrew from a project in Exagunbil Baytown, Texas, Al -Mashaea Complex, $ 500 million for Heidelberg materials in Louisiana and $ 375 million for Estuman Chemical Company in Longvio, Texas.
Carbon capture, which is often referred to as carbon capture and storage (CCS), is a technique for relieving climate change designed to prevent carbon dioxide emissions from entering the atmosphere or from pollution currents from facilities, including refineries and plants that burn coal and make ethanol to store underground.
Activists in climate change claim that the carbon emissions produced by a person causes the Earth’s heating. Trump has long rejected the theory and often referred to climate policies and progressive energy as a “new green fraud”, which is a play on “A new green deal,” A comprehensive climate and economic proposal defended by progressive Democrats such as MP Alexandria Okasio Cortez, Dun.
President Donald Trump speaks in the Roosevelt room at the White House in Washington, DC, on March 3, 2025. (Roberto Schmidt / AFP via Getty Images / Getty Images)
Environmental groups that focused on energy criticized the cuts. Stephen Nadel, Executive Director of the American Council for an effective energy economy, said this step was short -sighted and could suffocate innovation.
Nadid said: “Locking local factories in old technology is not a recipe for future competitiveness or the restoration of manufacturing functions to American societies.”
The Climate and Energy Solutions Center estimated that cuts in projects, which aim to test huge industrial programs, can lead to the loss of 25,000 jobs and $ 4.6 billion in economic production.
The agency said that the project review came after the Ministry of Energy sought to identify waste and protect the American national security and the advanced goal of President Trump’s number in unreasonable, reliable and safe energy for the American people.
Emotions at Oak Group, which is fueled by coal on April 29, 2024, in Robertson Province, Texas. The Energy Ministry has canceled 3.7 billion dollars of grants to climate projects, including carbon capture, as part of the review to ensure ECONO (Brandon Bell / Getty Images) / Getty Images)
Friday, Wright said that Biden Administration Alaska’s “stifling” with restrictions and red strip that exceeded the levels imposed on North Korea, Iran and Venezuela combined.
I saw I made comments At the National Economic Economic Forum at the Ronald Reagan Presidential Library to celebrate Trump’s executive orders “launches American energy” and how management deals with regulations that prevented coal growth and nuclear energy in modern history. Maria Bartopiromo Fox News has turned the energy -focused painting.
Fox News Emma Colon and Reuters contributed to this report.
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