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DAILY ENERGY NEWS  | 07/10/2025
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It's time for Team Trump to finish the job.


Daily Caller (7/9/25) reports: "The One Big Beautiful Bill Act is generally a boon for American energy independence, consumer choice and grid security, but the Trump administration ought to strengthen it by limiting a key loophole in its text, argues a new report from the Institute for Energy Research (IER). The new report, first provided to the Daily Caller News Foundation, outlines how the Treasury Department could aggressively clamp down on a loophole in the law for solar and wind projects that Trump alluded to in his Monday executive order, adding to the bill’s green energy subsidy reforms. Despite the last-minute Senate change that allows for green energy projects to receive tax credits if manufacturers pledge just 5% of their budgets by 2026, the reconciliation package signals a positive shift in U.S. energy policy in the aggregate, according to IER. 'I was disappointed that the Senate pulled a fast one on us at the eleventh hour,' President of IER Tom Pyle told the DCNF, though he noted that 'in totality, it is a massive shift away from subsidizing intermittent, unreliable energy sources like wind and solar… Depending on how the Treasury Department interprets legislation through guidance, we will see that it will be harder for wind and solar to continue to game the system like they have for decades.'..The report hammers taxpayer-funded green energy technology, noting that wind and solar are notoriously expensive and cheapen grid reliability, which is already deteriorating as infrastructure ages and power plants are retired. It notes that the intermittent and unreliable nature of wind and solar is linked with skyrocketing energy costs, despite lobbyists and green energy advocates’ protestations."

"The United States cannot afford to continue down the unstable and dangerous path of energy subtraction previous leaders pursued, forcing the closure of baseload power sources like coal and natural gas." 

 

– Secretary Chris Wright, Department of Energy

And they are wasting no time.


Washington Post (7/9/25) reports: "President Donald Trump issued an executive order Monday evening ordering his administration to crack down on remaining loopholes allowing access to renewable energy tax breaks, after Congress voted last week to overwhelmingly roll back the subsidies. The order aims to placate the right-wing House Freedom Caucus, which argued the One Big Beautiful Bill Act signed by Trump on July 4 should have gone further to cut subsidies and reduce the law’s impact on the deficit. Share prices of at least a dozen solar companies, including Enphase Energy and Sunrun, dropped after the order was signed. A last-minute deal between Senate and House Republicans last week agreed to allow wind and solar facilities that break ground within 12 months to receive subsidies for several years. Democrats uniformly opposed the bill, which gutted the Inflation Reduction Act, President Joe Biden’s signature climate law...Restricting that loophole could reduce the number of projects that qualify for the tax breaks and potentially save the government hundreds of millions of dollars, said Thomas Pyle, president of the Institute for Energy Research, a conservative think tank. 'The Trump administration could, when they issue guidance, tighten up the definitions and make it very specific in terms of what is under construction,' Pyle said. 'There’s attention on the language that the administration, when it issues guidance, will be doing so in a way to make sure these guys aren’t gaming the system.'"

America has the minerals as long as regulators stay out of the way.

Ending the EV tax credit is a win for working families across the country.


The Mercury News (7/9/25) reports: "The so-called One Big Beautiful Bill could lead to a big, mad dash for consumers looking to buy electric vehicles or install rooftop solar before federal tax incentives expire in the coming months. Led by Republicans on Capitol Hill and signed into law by President Donald Trump on July 4, the 940-page legislation affects taxes and spending on multiple elements of the nation’s economy — including the energy and auto industries. It rolls back major pieces of 2022’s Inflation Reduction Act that was pushed through by congressional Democrats and former President Joe Biden...But the bill’s supporters said renewable energy sources such as solar and wind, as well as electric vehicles, have received federal incentives long enough. The legislation 'goes a long way toward putting an end to the misguided Biden-era (Inflation Reduction Act), which has made our energy more expensive and less reliable,' said American Energy Alliance president Tom Pyle. 'Eliminating the EV tax credit marks a major win for those of us who have been advocating for years that consumer choice — not government mandates — should shape the American auto market.'"

Energy Markets

 
WTI Crude Oil: ↓ $67.70
Natural Gas: ↓ $3.20
Gasoline: ↑ $3.17
Diesel: ↓ $3.70
Heating Oil: ↓ $241.08
Brent Crude Oil: ↓ $69.60
US Rig Count: ↑ 575

 
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