President Joe Biden, with strong backing from environmental lobbyists and a last-minute defection from West Virginia Senator Joe Manchin, pushed through the Inflation Reduction Act and the Infrastructure Bill. These measures allocated billions of dollars in federal credits and loan guarantees to favored industries, all under the banner of environmental protection.
What followed was a Soviet-style industrial strategy in which a handful of Washington bureaucrats determined the winners and losers of America's energy future. //
Biden's green agenda had another critical flaw: financing. Much of it depended on borrowing from China—ironically benefiting Chinese companies dominating the very industries Biden sought to boost. Since the launch of China's "Made in China 2025" initiative, Chinese firms—heavily subsidized by their government—have taken over more than 85% of the global rooftop solar panel market. Battery components for solar installations have even higher Chinese market dominance. In effect, Biden borrowed money from China to finance the growth of Chinese companies that sold solar products to U.S. installers.
The new House bill aims to dismantle this entire framework in one stroke. It eliminates the trading of green credits between corporations, revokes low-interest green loans, and entirely phases out subsidies for renewable energy initiatives.
To those who claim this approach is irresponsible, we pose a simple question: How many more decades should the green energy sector rely on government aid to stay afloat? Sustainable energy and transition projects are essential, but they must prove their viability in the open market—just like oil and gas companies do every day. This is classic Adam Smith-style capitalism: let competition and innovation—not government favoritism—determine success.
Trump also supports nuclear power, one of the cleanest and most efficient methods of generating electricity. //
By issuing appropriate permitting waivers, Trump aims to unlock this potential, even if a modest federal investment is necessary to overcome ideological resistance from the Left.
