Trump’s Win Threatens U.S. Clean-Energy Boom
Donald Trump’s victory puts a skeptic of global warming back in the White House, triggering an about-face on climate policy that threatens to derail billions of dollars in clean-energy investment and slow a reduction in the nation’s emissions.
Investors dumped shares of renewable-power developers and bought oil-and-gas stocks in the days after the election. Trump has said he wants to repeal a 2022 Biden administration climate law that promised to channel several hundred billion dollars of tax incentives, loans and grants into the sector. The subsidies triggered a surge in manufacturing and jobs, most in Republican congressional districts. Trump also aims to rip up environmental regulations, which he says will unleash oil and gas production that is already at record levels.