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The Energy Secretary was honored to be in charge of running the historic agenda of President Trump's first term, so it was deeply troublesome to see Joe Biden regain his progress in a ruthless war with American energy.
President Biden couldn't grasp that affordable, reliable energy is the basis for fighting inflation, creating jobs and ensuring national security. His crackdown on all forms of energy has weakened us in all three aspects.
Thankfully, voters submitted their mandate last November, and President Trump has returned to restore control of America's energy. And he has held clinics for the past four months by strengthening homemade energy production at an unprecedented pace.
GOP lawmakers move to roll back the Biden era energy program
By declaring a national energy emergency on his first day in office, the President has shown that reviving our energy capabilities is his number one priority. He followed this by revoking Biden's efforts to freeze oil and natural gas production in the country. And in April, the White House issued an executive order to increase coal production, protect the energy industry from state overreach, and protect the energy network that has become increasingly unreliable during previous management.
These actions have already resulted in a 12% reduction in gas prices compared to the previous year. And more relief is ongoing. Republicans on the settlement bill that advanced in the House yesterday are packed with provisions the president defended to promote a surge in domestic energy production. Some important measurements are:
Reviving quarterly oil and gas lease sales in energy production state. Reduce oil and gas royalties to the previous IRA rate (from 16.67% to 12.5%) to promote private sector investment and production.
This is a powerful blueprint for growth, but there is one important shortage. The bill's approach to specific energy tax credits.
The House Budget Bill indiscriminately abolishes or abolishes almost all major tax credits from the so-called Inflation Reduction Act, which includes credits for electricity generation (45Y and 48E), hydrogen production (45V), and advanced manufacturing (45X). While it may be wise to phase out credits during a carefully planned transition period, it is not a good policy to make sudden changes that will keep your investments down and create uncertainty. With so many risks at present, it is important not to rule out policies that support actual US energy production and keep energy costs low.
Faced with demand for rising demand led to AI, data centers, industry reworking and electrification, removing all molecules or megawatts contributes to market rarity and rising costs. These are not academic choices, they are important price signals. Now taking energy production offline is a fossil, renewable or anything else, making America safer and American consumers poorer.
As Vice President Vance pointed out earlier this year, the surest way to combat inflation during the Biden era is to reduce energy costs. This means growth rather than shrinking domestic supply.
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It is also important to acknowledge economic realities. These credits cut consumer costs, create hundreds of thousands of jobs, and support billions of dollars in private investment in Republican-led states. Indiscriminately obstructing these incentives would put a strain on the economy of major districts and risk political backlash at risk at a time when conservative leadership was ever more needed.
President Trump understands this. That's why he established the National Energy Control Council and embraced all existing energy approaches, not as a slogan, but as a strategy. America wins when it produces everything: oil, gas, coal, nuclear, renewables. Remove any of them from the table and weaken our position, whether it's regulation or tax policy.
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We should celebrate the victory this administration has already offered. But they should not be offset by cutting energy tax credits that truly drive production, create jobs and strengthen national security.
The goal is domination, not confusion. Congress must act accordingly.
