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President Donald Trump Always raced at an amazing pace to keep all campaign commitments. However, he has only four months left to fulfill his vow to reduce electricity prices at the end of the first year. Fight against it Biden gives medicineThe president’s harmful anti-fossil fuel agenda faces stiff headwinds. The only way the president encounters his self-imposed deadline is to quickly change the course, reject Biden’s mistakes and unlock the potential of every available electronic.
The trendline looks pretty good so far. last year, Electricity prices have risen twice quickly With inflation and the Energy Information Administration estimates that retail electricity prices will continue to surpass inflation next year, with residential prices 13% to 18% higher than in 2022.
But traditionally, consumers have been more concerned about gasoline prices – a number they predict on highway signs, which they experience in person multiple times a month in pumps – Electricity price spike Rather than the promised price cuts will likely reduce Trump’s mass support.
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Worse, these price increases will be Medium term, Trump will be in the fight to retain his slim congressional majority.
A senior New Mexico regulatory official has withdrawn from the decision regarding a utilities merger with energy giant Iberdrola. (AP Photo/Susan Montoya Bryan, File)
The current price increase is not Trump’s fault. Instead, he inherited a market with increasing and unprecedented energy demand and the Biden administration’s harmful policies to gradually eliminate the consequences of fossil fuels.
Technological innovations such as cloud and quantum computing, crypto mining, adoption of electric vehicles, streaming services, and most importantly AI data center, There is huge energy demand for all, which drives higher electricity prices. RAND estimates that global AI data centers alone will need 327 GW of energy by 2030. To think of it, the entire California state uses 86 GW of energy in 2022.
Faced with rising demand, the Biden administration has begun a radical plan to reduce legacy energy production. this Biden EPA imposes new emission restrictions This effectively forces coal and gas power plants to retire and manipulate regulations across agencies in traditional fuel sources.
If these competitive age policies did not cause current electricity price peaks, then they at least allow today’s demand-induced price increases to hit consumers without ease.
Trump must now deal with his own crisis. With his promise of winning the AI race, Advance Crypto and Reshore energy-intensive manufacturing, such as semiconductor production, Trump can only check electricity prices Supply increased significantly Meeting demand continues to rise.
Unfortunately, his government seems to be Repeat the same error As Biden, it just carries a different ideology.
Trump breached his “first day” commitment, as U.S. prices rise in the first six months, costs drop
Where the Biden administration cuts its energy supply by attacking fossil fuel production, the Trump administration has restricted alternative and renewable energy sources.
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A beautiful bill revokes tax incentives for renewable energy, and the government has filed multiple orders, rule This limits clean energy, from stopping offshore wind rentals to curbing solar tax credits.
On February 27, 2023, an existing CPV power plant was seen in Woodbridge, New Jersey. (AP Photo/Wayne Parry)
“Diamond, baby, drill” is a great energy policy, but it’s not enough in itself. Although the United States has produced almost enough energy from fossil fuels (86.3 quads) in 2023 to provide the full energy consumption of our country (93.59 Quads), the truth is that we need alternative energy to meet current demand. When more energy is needed in the future, the necessity of alternative energy will only increase.
The cheapest way to put more electrons on the grid immediately is to build more solar and energy storage infrastructure immediately, coupled with natural gas peak plants, which can be opened quickly during peak hours.
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In the medium term, the United States needs to increase nuclear energy production, build more energy infrastructure, such as power transmission lines and natural gas pipelines, and build geothermal power plants while deploying technologies that enhance grids, increasing demand response and increasing energy efficiency. With the increasing adoption of solar and electric vehicles, the United States could even build a aggregated residential, virtual power plant network that could only absorb energy at low use while pouring energy into the grid when it was most needed.
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If these competitive age policies did not cause current electricity price peaks, then they at least allow today’s demand-induced price increases to hit consumers without ease.
The point is that if we have any hope of retaining prices, we must deploy every energy and efficiency measure.
President Trump cannot be blamed for the current rise in energy prices. But if his government continues to limit supply by supporting one energy rather than others, he can be blamed. At the end of each month, most consumers don’t care where their energy comes from; they only care about it being cheap.
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