Trump has 4 months to halve electricity prices as campaign promised
- Comments
Brian Kilmeade: Wherever you look, energy matters
Fox News host Brian Kilmeade explains how harnessing energy is key to a country's power on 'One Nation.'
NEWYou can now listen to Fox News articles!President Donald Trump has been racing at breakneck speed to keep all his campaign promises. Yet he has only four months left to fulfill his vow to halve electricity prices by the end of his first year. Fighting against the fallout of the Biden administration’s harmful anti-fossil fuel agenda, the president faces stiff headwinds. The only way the president can meet his self-imposed deadline is to change course quickly, reject Biden’s mistakes and unlock the potential of every available electron.
So far, the trend lines aren’t looking good. In the last year, electricity prices have risen twice as fast as inflation, and the Energy Information Administration estimates that retail electricity prices will continue to outpace inflation through next year, with residential prices surging between 13% to 18% higher than in 2022.
Though, traditionally, consumers have been much more concerned about gas prices — a number they see projected on highway signs and experience firsthand multiple times a month at the pump — the experience of electricity price spikes instead of the promised price cuts will risk diminishing Trump’s popular support.
'WEB OF DARK MONEY' TIED TO OBAMA, DEMS FUELS GREEN OPPOSITION TO CRUCIAL TRUMP ENERGY PLAN
What’s worse, these price hikes will arrive before the midterms, when Trump will be battling to retain his slim congressional majorities.
A top regulatory official in New Mexico has recused himself from decisions regarding a public utility merger with energy giant Iberdrola. (AP Photo/Susan Montoya Bryan, File)
The current price hikes aren’t Trump’s fault. Instead, he inherited a market with increasing and unprecedented energy demand coupled with the fallout from the Biden administration’s harmful policies to phase out fossil fuels.
Technological innovations like cloud and quantum computing, crypto mining, electric vehicle adoption, streaming services and, most of all, AI data centers, all have tremendous energy demands, which drive electricity prices higher. Rand estimates global AI data centers alone will need 327 GW of energy by 2030. To put that into perspective, the entire state of California used 86 GW of energy in 2022.
'LEFTIST' TAXPAYER-FUNDED ACADEMY SPARKS BACKLASH AFTER MOVING AGAINST TRUMP'S ROLLBACK OF KEY REGULATION
In the face of rising demand, the Biden administration embarked on an aggressive program to curtail legacy energy production. The Biden EPA imposed new emissions restrictions that effectively forced the retirement of coal and natural gas power plants and manipulated regulations across agencies to hem in traditional fuel sources.
If these Biden-era policies didn’t cause the current electricity price spikes, they at least allowed today’s demand-induced price increases to hit consumers unabated.
(责任编辑：热点)
