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Administration cancels nearly $30 billion in Biden-era green loans; DOE secretary says loans wouldn’t lower consumer costs
Summary
The Trump administration announced cancellations of about $30 billion in clean-energy loans and revisions to another $53 billion. Energy Secretary Chris Wright told a news panel the funds ‘‘wouldn’t lower the cost of energy for Americans,’’ while panelists raised legal, geopolitical and corruption concerns.
The Trump administration has moved to cancel about $30,000,000,000 in Biden-era clean-energy loans and revise roughly $53,000,000,000 more, with the Department of Energy saying much of the late-term funding did not advance lower consumer energy costs, according to an on-air discussion featuring an interview with Energy Secretary Chris Wright.
Secretary Wright told the program that "as you looked at that 100,000,000,000 that was committed to loans, precisely 0 of it was gonna do something that was gonna lower the cost of energy for Americans or expand the production of reliable, affordable energy for Americans." He framed the prior loan commitments as politically driven by climate priorities rather than consumer benefit.
Why it matters: the Department of Energy also halted hundreds of projects and canceled grants during a…
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