How will the United States energy policy evolve under a potential Joe Biden or Donald Trump presidency in 2025 and beyond? And how will the White House -- led by Trump or Biden -- potentially influence sustainable IT services after the November 2024 U.S. Presidential Election?
This timeline (see further below), updated regularly, tracks energy policy statements from the Trump and Biden camps. We'll also update the timeline if the Democratic Party's presidential nominee changes from Biden to a new candidate.
Trump vs. Biden Energy Policies: Quick Overview and My Personal Biases
In terms of my personal biases, as of July 2024 I do not plan to vote for Trump or Biden. I personally believe Trump and Biden are not qualified to run the country because of their ethical and mental lapses. If my opinion evolves I'll be sure to update this article accordingly.
On the sustainability front, I don't see Biden or Trump as 100% "all good" or 100% "all bad" on topics such as renewable energy, fossil fuels and energy security. Sound strange? Let me explain a bit more...
Under Biden's watch, U.S. oil production reached a record high in 2023. Meanwhile, the Inflation Reduction Act (IRA) of 2022 (signed by Biden into law) has helped to advance numerous energy transition and carbon reduction efforts. But the the IRA -- which includes $369 billion in tax credits and subsidies for low-carbon energy projects -- also contributes to sky-high U.S. federal government deficits. Moreover, the IRA didn't lower inflation rates that crippled some U.S. households.
For Trump's part, he continues to reject climate change and the science that tracks global warming. If Trump returns to the White House in 2025, he has vowed to eliminate Biden's CleanTech incentives, Electric Vehicle tax credit policies and plenty more.
I believe free markets and innovation -- rather than tax incentives -- should drive sustainability. But I am concerned about Trump pulling the United States out of the Paris Agreement (again). The agreement is a legally binding international treaty on climate change.
Either way, a re-elected Trump likely won't stop renewable energy deployments -- which have already accelerated to critical mass. Among the proof points to note: Texas -- a mostly conservative state -- leads the United States in wind power production, and is second in solar power production as of 2023, according to CNet. Simply put: Renewable energy is helping to keep the lights on in Texas.
My Personal Views and Biases: My political views typically involve a socially liberal, fiscally conservative approach to government. I believe governments and industry must research and fight climate change. But I don't believe the U.S. government should set ClimateTech policies or spending that further inflate budget deficits; nor should the government influence the corporate winners and losers in ClimateTech, renewable energy and sustainable IT services.
Instead, I prefer that the private sector (venture capitalists, entrepreneurs, startups and technology businesses) invest their own money (rather than taxpayer dollars) to tackle climate change, energy grid modernization, energy production, carbon reduction and more.
Timeline: Trump vs. Biden Energy Policy Statements, Updates
Still, there's no eliminating the U.S. government's role in energy policy -- especially since energy security is crucial to protecting our democracy and economy. With those points in mind, here's a day-by-day update on how Biden and Trump say they will shape U.S .energy policies if they win the 2024 U.S. presidential election. Check back regularly for ongoing updates.
July 2024 Policy Updates
July 18 - Trump EV Policy Part One: Trump used his nomination speech to take aim at President Joe Biden’s electric vehicle policies, vowing to take action against them on his first day in office, Bloomberg reported.
July 15 - Trump EV Policy Part Two: Trump running mate JD Vance in 2023 proposed the Drive American Act, a bill intending to replace the $7,500 EV tax credit with a subsidy of the same amount for U.S.-built gas vehicles, Teslarati reported. Related: See our Donald Trump vs. Joe Biden Climate Policy timeline.
June 2024 Policy Updates
June 28 - Paris Climate Accord: Trump would yank the United States out of the Paris climate accord for the second time if he wins the presidency again in November 2024, a campaign spokesperson told Politico.
June 27 - Trump Presidency Reduced CO2 Emissions: Trump's apparent talking points for the June 26 Presidential Debate noted that United States CO2 emissions dropped during Trump's presidency, The Hill reported.
June 20 - Trump Climate Spending Cuts?: A November 2024 presidential election win for Donald Trump will threaten $369 billion in U.S. clean energy initiatives from the Biden administration’s landmark climate law, according to Bloomberg Intelligence.
June 14 - Trump Energy Policy: Former President Donald Trump returned to Capitol Hill on June 13 to rally his base and preview his second term agenda, offering some specifics on plans to expand fossil fuel production and unravel Biden administration policies to boost electric vehicles, E&E News reported.
June 14 - Inflation Reduction Act: Roughly $27 billion from President Biden's Inflation Reduction Act (IRA) will be allocated for projects by September 2024, E&E News reported. The result: Even if the presidency transitions to Donald Trump in 2025, Trump won't be able to cancel that $27 billion spending allotment.
May 2024 Policy Updates
May 29, 2024 - Biden Nuclear Policy: The Biden administration announced the creation of a Nuclear Power Project Management and Delivery working group to "help identify opportunities to proactively mitigate sources of cost and schedule overrun risk."
May 28, 2024 - Biden Grid Modernization Plan: The Biden-Harris administration announced the Federal-State Modern Grid Deployment Initiative, with commitments from 21 leading states.
May 28, 2024 - Carbon Markets: The Biden-Harris Administration released a Joint Statement of Policy and new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs). The effort will "codify the U.S. government’s approach to advance high-integrity VCMs," the administration asserts.
May 27, 2024 - Trump on Electric Vehicles (EVs): Donald J. Trump is crystal clear about his disdain for electric vehicles, The New York Times reported. The former president has falsely claimed electric cars don’t work, promised to shred President Biden’s policies that encourage E.V. manufacturing and sales, and has said he would slap a “100 percent tariff” on electric cars imported from Mexico if he retakes the White House.
May 22, 2024: The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at the pump ahead of the Fourth of July holiday and summer driving season, the White House said.
May 16, 2024 - Potential Trump Victory Implications: A victory by Republican Donald Trump in the US presidential election threatens $1 trillion in energy investments and future support for low-carbon energy sources, according to a Wood Mackenzie report, Bloomberg said.
May 12, 2024 - Trump vs. Wind Farms: He vowed to issue an executive order targeting offshore wind development if he wins a second term as president, making his most explicit threat yet toward the growing industry, Bloomberg reported.
May 9, 2024 - Wind Farms Concerned About Trump: The candidate’s vocal disdain for wind farms is another worry for Wind Farm developers, who’ve faced high costs and supply-chain woes, Bloomberg reported.
May 9, 2024 - Trump and Oil Industry executives: Trump asked oil industry executives in April 2024 to donate $1 billion to aid his campaign to retake the White House, three people familiar with the conversation told POLITICO — a request that campaign finance experts said appeared troubling but is probably legal. The request, first reported by The Washington Post, occurred during a meeting of industry executives at the former president’s home in Palm Beach, Florida.
May 2, 2024 - SEC Climate Disclosure Rule: The SEC under a second Donald Trump presidency would roll back the aggressive stance the government agency has taken against corporate giants with current chairman Gary Gensler at the helm, CNBC reported.
April 26, 2024 - Republican Policies: As it becomes clear that Trump will win the Republican presidential nomination, there has been a notable retrenchment in the commitment of many GOP clean-energy advocates, Bloomberg reported.
More: Continue to the next page for additional timeline updates.
