Trump's EPA rolls back climate and clean energy initiatives

The new head of the Environmental Protection Agency (EPA), Lee Zeldin, plans to cut back on climate and clean energy programs. He has stated that these cuts will help unleash American energy and lower costs for consumers. However, experts warn that taxpayers could end up paying for the consequences of extreme weather events linked to climate change. On January 20, former President Donald Trump, who has recently returned to office, signed executive orders aimed at rolling back environmental protections. These orders declared a national energy emergency and targeted renewable energy sources such as wind. Although the U.S. is the second-largest greenhouse gas emitter, oil and gas production peaked under President Biden’s administration, with electricity prices being lower and more stable in 2024 thanks to cheaper renewable energy. Zeldin announced plans to remove $20 billion in clean energy grants made by the Biden administration. He criticized these funds, claiming there was fraud and waste involved, although a judge stated there was no evidence of wrongdoing. Trump's withdrawal from the Paris Climate Agreement has raised concerns about the U.S. failing to reduce emissions. A recent report warns that if global temperatures rise by 3 degrees Celsius by 2100, it could lead to a significant reduction in economic output. Climate-related disasters have cost the global economy over $2 trillion in the last decade alone. Experts argue that cutting climate initiatives could harm job growth in the clean energy sector, which has employed more people than the fossil fuel industry. Since the Inflation Reduction Act was passed in 2022, investments in clean energy have soared, particularly in Republican states. Some analysts suggest that the recent surge in solar energy installations could reverse if supportive policies are eliminated. Meanwhile, efforts to dismantle existing environmental regulations may face legal challenges, as the EPA could struggle to implement these cuts without following proper procedures.