Donald Trump’s plan to dismantle the Biden administration’s comprehensive climate legislation has been criticized by the US energy secretary, Jennifer Granholm. In an interview with the Financial Times, Granholm warned that scrapping the Inflation Reduction Act (IRA) would not only harm American interests but also give China an advantage in the global cleantech race. She highlighted how the IRA had already attracted a significant amount of investment, totaling $500 billion, and had successfully revitalized US manufacturing capabilities to compete with China.
Granholm expressed concern that Trump’s proposal to eliminate the IRA and its substantial cleantech subsidies if he were elected president in November would undermine progress made in reshoring factories and jeopardize American energy independence. She questioned why anyone would want to give China an advantage again, emphasizing that it would be detrimental and foolish for the United States.
The energy secretary further emphasized that abandoning the IRA would not only compromise America’s energy independence but also have significant geopolitical implications. Granholm stressed that it was crucial for countries like the US to reduce their dependence on Chinese supply chains for critical minerals, solar panels, and batteries. She argued that allies did not want to rely solely on one source for these essential resources.
Passed in 2022, the IRA is a central component of President Biden’s economic agenda aimed at reindustrializing parts of America affected by industrial decline. The legislation includes approximately $370 billion in credits, loans, and grants designed to accelerate investment in green energy manufacturing capacity.
In contrast to Biden’s approach, Trump has vowed to undo this legislation as part of his campaign promises. He blames Biden’s green policies for increasing fuel costs and argues that rescinding all unspent funds under what he calls “the misnamed Inflation Reduction Act” will set America back rather than move it forward.
Trump has consistently dismissed climate change as a hoax while advocating for rolling back environmental regulations and boosting fossil fuel production in the United States.
It is important to note that any attempt by Trump or Republicans to overturn or modify existing legislation like IRA would require new laws passed through Congress. Therefore, winning control of both houses during November elections becomes crucial if they wish to pursue such changes.
Granholm strongly criticized any potential efforts by Trump regarding this matter as “political malpractice.” She believes such actions would face opposition from politicians within his own Republican party who are eager to protect projects and jobs within their states. Notably, around 70% of planned investments stimulated by IRA have been directed towards Republican districts characterized by below-average wages and education levels.
As of now, there has been no response from Trump’s campaign regarding these concerns raised by Granholm.
Additionally addressing claims made by former President Trump about a supposed “war on American energy” waged by President Biden’s administration through restrictions on oil/gas permitting and pausing approvals of new liquefied natural gas export projects; Granholm refuted them entirely stating facts contradicting those claims: The US oil/gas sector is currently producing more than ever before; furthermore she pointed out how more drilling permits have been issued under President Biden compared with those granted during Trump’s tenure.
Regarding new LNG plants’ approval process being paused since January due expansion concerns; she explained this decision was necessary given previous years’ rapid industry growth rate; awaiting scientific report findings expected later this year will determine future steps according her statement
