Former US President Donald Trump recently outlined his plans to reduce electricity costs and create an economic boom by quickly approving the construction of new power plants and encouraging the deployment of small modular reactors for nuclear energy. He stated that increasing electricity production would help tame inflation and meet the future energy needs of artificial intelligence. Trump’s proposal includes declaring a national emergency to dramatically increase energy production, generation, and supply, as well as approving new drilling, pipelines, refineries, power plants, and reactors while reducing bureaucratic red tape. The former president also emphasized the need for strong agency leadership in order to combat resistance within the Environmental Protection Agency (EPA.
Trump’s plan involves putting more emphasis on nuclear power than he did during his first term in office, with experts stating that this could help counter Democrats on the issue of climate change. Critics argue that increasing energy production is essential for maintaining economic growth and stability, as higher electricity costs lead to an increase in prices for all goods and services. The American Energy Institute CEO Jason Isaac stated that “energy isn’t part of the economy; it’s the heart of the economy, and if energy costs increase, everything increases.
In addition to focusing on nuclear power, Trump also restated a series of familiar pro-fossil fuel policies, such as easing domestic production of oil, natural gas, and coal. However, critics argue that he will face resistance from within the EPA when attempting to implement these measures. The former president has also vowed to claw back at least some of the $369 billion in environmental funding included in Biden’s 2022 Inflation Reduction Act, which Republicans argue has contributed to inflation since January 2021.
