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Trump vs Biden 2024: Energy and Climate Policy Statements, Strategy Timeline

June 2, 2024 by Joe Panettieri

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.

Trump vs. Biden Energy Policies: Quick Overview and Our Personal Biases Disclosed

In terms of our personal biases, we 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. Here's why...

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.

We believe free markets and innovation -- rather than tax incentives -- should drive sustainability. But we are 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.

Our Personal Views and Biases: At Sustainable Tech Partner, our political views typically involve a socially liberal, fiscally conservative approach to government. We believe in climate change. But we 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, Sustainable Tech Partner prefers 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.

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.

March 2024 - Trump vs Biden Energy Policy Statements, Updates

March 27, 2024 - California vs. Trump: Gov. Gavin Newsom is readying an army of bureaucrats to defend the state’s climate policies against a potential second Trump administration, Politico reported.

March 22, 2024 - Oil Execs Don't Love the Candidates: Oil and gas execs are unhappy with Biden — but not eager for Trump’s return, Politico reported.

March 21, 2024 - Trump on Electric Vehicles (EVs): Trump said the Biden administration’s promotion of EVs would lead to a “blood bath” in the auto industry and beyond if President Biden wins reelection, The Hill reported.

March 11, 2024 - Trump on CNBC: “I’m all for electric cars but you have to have all of the alternatives also,” Trump said in an interview with CNBC. “First of all they don’t go far, they cost too much, and they’re all going to be made in China.”

March 6, 2024: A Trump win in the November 2024 presidential election could increase the United States’ planet-heating pollution by so much that the emissions would negate the last five years of global progress on deploying clean energy — twice over, HuffPost reported.

February 2024 - Trump vs Biden Energy Policy Statements

February 27, 2024 - Trump vs. Nikki Haley: In contrast to Trump, Haley acknowledges the reality of human-caused climate change while advocating for U.S. energy independence, USA Today noted. Her campaign platform emphasizes cutting what she describes as "Biden's wasteful green energy subsidies and regulations" and promoting domestic oil production while streamlining pipeline permitting processes, the paper said. However, Haley also expresses openness to alternative energy sources like carbon capture and nuclear energy as potential alternatives to fossil fuels, USA Today noted.

February 21, 2024 - Utility Perspectives: The head of the Edison Electric Institute said the utility trade group would defend Biden’s signature climate law from Republican attacks, Politico reported, even if Trump retakes the White House in the 2024 U.S. presidential election.

February 16, 2024 - Trump Energy Policy: Here's what a second Trump presidency could mean for U.S.energy policy, Reuters reported.

February 16, 2024 - Republican Energy Views: Trump’s hard-line positions on climate change aren’t deterring some members of his party from backing policies to stop global warming, Politico reported.

February 13, 2024 - Renewable Energy Will Accelerate: A re-elected Trump won't stop renewable energy deployment, but could reverse anti-coal diplomacy efforts, U.S. Special Presidential Envoy for Climate John Kerry said at the International Energy Agency ministerial gathering, Reuters reported.

February 7, 2024 - Goodbye EV Tax Credits?: Tax credits that underwrite many U.S. electric vehicle purchases are top targets for elimination if Republicans win the White House or strengthen their grip on Capitol Hill in November 2024, Bloomberg reported.

January 2024 - Trump vs. Biden Oil Policy

January 31, 2024 - Oil Policy: One possible way to lower energy prices is for America to tap more energy it already has, as former President Donald Trump recently implied by saying, "We are going to drill, baby, drill," Benzinga reported. It should be noted, however, that U.S. oil production has already hit a new record high under Biden's watch at the end of 2023, th report said.

Note: We've disclosed our viewpoints in this article. If you care to offer feedback or differing views, we certainly welcome them through comments below and email to me (Joe@MentoreVentures.com). Thank you.

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