Energy Policy in Reverse

A surprise to no one, the Trump White House has successfully put a spear through the major tax credits for renewable energy and electric transportation; the sole survivor here was a short extension of the PTC (production tax credit) for wind. Though Treasury Secretary Steven Mnuchin (pictured) had signed off on a continuation of these programs, Trump intervened at the end and removed them.  In fact, several sources noted that Mnuchin had signed off on a plan that included the green tax provisions, but that talks ultimately broke down under pushback from the White House. “It’s unfortunate the White House crushed it at the last minute,” said Stephen Irvin, president and CEO at Amicus Solar, a solar co-operative with 55-local installer member-owners.

From the article linked above: “One source, who requested anonymity due to the sensitivity of the negotiations, noted that as long as President Trump resides in the White House and Republican support remains tepid, it appears that clean energy tax incentives — or any bill that would move the ball on addressing climate change — are off the table.”

What will the the resulting competitive advantage for fossil fuels do? The simple answer is that a)  it’s a blow to the health of all living things on this planet, now and for decades to come, and b) it’s the enrichment of Trump’s donor base. In short, it’s business as usual.