Can Biden's green boom survive Trump's wrecking ball?
Financial Express Delhi|December 27, 2024
THE ENERGY TRANSITION sustained an electoral trauma as 2024 drew to a close. The incoming administration of President-elect Donald Trump promises to undo at least some of the progress made on decarbonisation under President Joe Biden.
Liam Denning Bloomberg

But the energy market is its own beast, subject to politics but also beholden to economic, technological, environmental, and international forces. Here are five elements to watch in Year One of Trump Two.

The IRA: Democrats entered 2021 debating how many trillions of dollars of subsidies would feature in a climate bill. Four years later, they brace for how much of the (shrunken) legislation that ultimately passed will survive.

Three things offer them grounds for cautious hope. First, Trump's earlier trifecta, in his first term, didn't deliver a death blow to the Affordable Care Act, a prior GOP bête noire. It's just hard to remove federal benefits once enacted — which leads into the second factor: Cleantech investment and jobs spurred by the Inflation Reduction Act flow overwhelmingly to red districts. Third, Republicans' House majority is razor-thin.

This story is from the December 27, 2024 edition of Financial Express Delhi.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 27, 2024 edition of Financial Express Delhi.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM FINANCIAL EXPRESS DELHIView All
Financial Express Delhi

Chinese Dam on Table for Sullivan's India Visit

AI, civilian nuclear cooperation, space may also be taken up

time-read
1 min  |
January 05, 2025
Financial Express Delhi

Mike Johnson Re-elected US House Speaker

Republican Congressman Mike Johnson on Friday was re-elected as Speaker of the US House of Representatives with a narrow victory margin of three votes.

time-read
1 min  |
January 05, 2025
Financial Express Delhi

S Korea investigators ask acting prez to clear way for Yoon's arrest

SOUTH KOREAN INVESTIGATORS again asked the country's acting president on Saturday to order the presidential security service to comply with an arrest warrant for impeached President Yoon Suk Yeol.

time-read
1 min  |
January 05, 2025
Financial Express Delhi

Microsoft to spend $80 billion on AI data centers this year

MICROSOFT CORP PLANS to spend $80 billion this fiscal year building out data centers, underscoring the intense capital requirements of artificial intelligence.

time-read
1 min  |
January 05, 2025
Financial Express Delhi

No jail time for Trump, suggests judge in US hush money case

Will keep fighting, says communications director Cheung

time-read
1 min  |
January 05, 2025
Financial Express Delhi

Rohit clears the air: Not going anywhere

Says those on outside can't influence when he stops playing

time-read
2 mins  |
January 05, 2025
Financial Express Delhi

Border-Gavaskar Trophy: As Bumrah leaves, 'captain' Kohli calls the shots

Kohli took charge after Bumrah left bowling due to spasm

time-read
3 mins  |
January 05, 2025
Financial Express Delhi

Big rockets, a telescope & big changes in space await in 2025

Some key events to look forward to in space & astronomy

time-read
4 mins  |
January 05, 2025
Financial Express Delhi

Worrying signs from the Arctic

Scientists say fires in the region could have major consequences

time-read
2 mins  |
January 05, 2025
Financial Express Delhi

The Fall season

Fun and games for the elite players, the Fall Series gave the fans plenty to watch

time-read
4 mins  |
January 05, 2025