By John Bresnahan, Reuters The Trump era is the time for President Donald Trump to put his big energy and agriculture deals on hold.
Energy giants and major energy groups are lining up behind the president as the US faces a wave of climate change and a worsening global food crisis.
The energy and environmental groups have been working with Trump on his proposed tax cuts for energy producers, with companies pledging to invest billions in clean technology.
On Tuesday, Trump announced he would delay his plan to tax carbon emissions and to scrap the Clean Power Plan, which seeks to cut emissions from coal-fired power plants.
That move would boost the renewable energy industry and lower the cost of energy.
“The president is going to have a big moment with renewables when it comes to carbon and other clean energy.
This is going be a big time,” said Michael J. Phelan, director of policy at the Union of Concerned Scientists, a Washington-based research group.
The United States needs more than 500 gigawatts of new solar, wind, hydroelectric and other renewable energy capacity by 2035, according to a study from the Energy Information Administration.
That number has been growing steadily.
It would be a major step forward for Trump to see his agenda get off the ground, but it would also be a setback for the Trump administration’s plan to bring the U.S. energy sector closer to the kind of clean, green energy it needs to compete in the world.
For a while, Trump said, he was open to a tax overhaul that would spur growth.
In a tweet Monday, he said the plan would provide $1 trillion in infrastructure investment, and said he was “looking forward to a deal with Congress” that included $1,000 for every new home that was built.
The U.N. environment agency has said it will not accept a tax cut that does not include an incentive for businesses to increase their use of renewable energy.
It will be an “extraordinary challenge” to get Congress to approve a tax bill that includes $1 billion for infrastructure investment as part of a package, said Chris Rupkey, chief executive of the Green Climate Fund, a climate group.
In the short term, however, the biggest prize could be a plan to get more people to switch to clean energy and to replace fossil fuels with more renewable energy, according a senior Trump administration official.
The official, who spoke on condition of anonymity to discuss internal deliberations, said Trump would make a big push to bring more Americans into the electric vehicle market, including with a tax credit for electric vehicles.
He would also consider incentives for people to install solar panels in their homes, which would create jobs and spur investment in clean energy technology, the official said.
“There are opportunities for more Americans to be part of this revolution in clean and green energy and that’s why we’re very committed to getting it done,” said one of the administration officials.
“He’s not going to stop there.
He’s going to put a lot of things on hold to get this done,” the official added.
In December, Trump’s nominee to lead the Environmental Protection Agency, Lisa Jackson, told the Senate Energy and Natural Resources Committee that she believed the US should be working toward a $1.5 trillion clean energy investment plan.
On Thursday, the White House confirmed that a new study by the National Academy of Sciences that examined the impact of climate action by 2020 was released.
The study was conducted by a team of more than 200 experts who examined the effect of reducing carbon dioxide emissions and other pollutants by 2040.
The authors said the findings support a pathway to reducing emissions of carbon dioxide by 2045 and that it is time to “get serious about reducing emissions.”
“There is a lot we still have to do to cut greenhouse gases, but if we are serious about it we can achieve the goal we set out to do,” said Peter J. Wehner, chairman of the Council of Economic Advisers.
On Monday, a coalition of businesses and environmental organizations wrote to the president saying the transition plan was “unlikely to have significant consequences” on jobs, investment and the environment.
The group called the transition effort “a failure” and urged Trump to halt the plan.
“We are concerned that this transition effort may have significant short-term economic impacts and long-term climate impacts that would not be captured by the federal government,” the letter said.
On Wednesday, the Energy Department released a report that said the U,S.
could have enough energy from wind, solar and geothermal power by 2030 to supply the country for about half its current needs.
The report also noted that the U would need to add about 300 gigawatts more in renewable energy by 2026.