190. What Trump’s First 100 Days Have Meant To The Power Industry The POWER podcast

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190. What Trump’s First 100 Days Have Meant to the Power Industry

5d ago 38:47

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U.S. President Donald Trump was sworn into office for the second time on Jan. 20, 2025. That means April 30 marks his 100th day back in office. A lot has happened during that relatively short period of time. The Trump administration has implemented sweeping changes to U.S. energy policy, primarily focused on promoting fossil fuels while curtailing renewable energy development. The administration declared a “national energy emergency” to expedite approvals for fossil fuel infrastructure and lifted regulations on coal plants, exempting nearly 70 facilities from toxic pollutant rules. Coal was officially designated a “critical mineral,” with the Department of Justice directed to investigate regulatory bias against the industry. Additionally, the administration ended the Biden-era pause on approvals for new liquefied natural gas (LNG) export facilities, signaling strong support for natural gas expansion. On the environmental front, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin announced 31 deregulatory actions designed in part to “unleash American energy.” The administration is also challenging the 2009 EPA finding that greenhouse gases endanger public health—a foundational element of climate regulation. President Trump announced the U.S.’s withdrawal from the Paris Climate Agreement, effective in early 2026, and terminated involvement in all climate-related international agreements, effectively eliminating previous emissions reduction commitments. Renewable energy has faced significant obstacles under the new administration. A six-month pause was imposed on offshore wind lease sales and permitting in federal waters, with specific projects targeted for cancellation. The administration issued a temporary freeze on certain Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) funds designated for clean energy projects. Policies were implemented to weaken federal clean car standards, potentially eliminate electric vehicle (EV) tax credits, and halt funding for EV charging networks—indirectly affecting power generation by potentially reducing electricity demand from EVs. Yet, the administration’s tariff policy may end up impacting the power industry more than anything else it has done. “One thing in particular that I think would be hard to argue is not the most impactful, and that’s the current status of tariffs and a potential trade war,” Greg Lavigne, a partner with the global law firm Sidley Austin, said as a guest on The POWER Podcast. In April, President Trump declared a national emergency to address trade deficits, imposing a 10% tariff on all countries and higher tariffs on nations with large trade deficits with the U.S. These tariffs particularly affect solar panels and components from China, potentially increasing costs for renewable energy projects and disrupting supply chains. Meanwhile, the offshore wind energy industry has also taken a hard hit under the Trump administration. “My second-biggest impact in the first 100 days would certainly be the proclamations pausing evaluation of permitting of renewable projects, but particularly wind projects, on federal lands,” said Lavigne. “That is having real-world impacts today on the offshore wind market off the eastern seaboard of the United States.” Despite the focus on traditional energy sources, the Trump administration has expressed support for nuclear energy as a tool for energy dominance and global competitiveness against Russian and Chinese nuclear exports. Key appointees, including Energy Secretary Chris Wright, have signaled a favorable stance toward nuclear power development, including small modular reactors. All these actions remain subject to ongoing legal and political developments, with their full impact on the power generation industry yet to unfold.

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