Trump Freezes Department of Energy’s $50 Billion Budget

In a sweeping move that halts billions in spending, President Trump’s administration has frozen the Department of Energy’s (DOE) activities pending a comprehensive review of its alignment with his priorities. According to a memo from acting Energy Secretary Ingrid Kolb, the freeze affects grants, loans, procurement, studies, and even personnel decisions, effectively bringing the agency’s $50 billion budget to a standstill.

Beyond bureaucratic tinkering, the halt is a direct shot at dismantling Biden-era climate policies. The DOE’s Loan Programs Office, holding $41.2 billion in conditional commitments to energy technology companies, now finds its purse strings tightly cinched. Other critical missions, like nuclear waste cleanup and maintenance of emergency crude reserves, are similarly on pause.

The order mirrors an earlier Trump directive freezing funds tied to Biden’s Inflation Reduction Act and a bipartisan infrastructure law, both of which allocated billions for clean energy initiatives. Trump, who has championed fossil fuels as a cornerstone of his energy policy, has made it clear that climate-focused spending is no longer a federal priority.

 

  • Related Posts

    Marathon Petroleum Tops Q4 Earnings Estimates Despite Falling Refining Margins

    ByCharles Kennedy– Feb 04, 2025, 10:30 AM CST Despite declining refining margins, Marathon Petroleum Corp. (NYSE: MPC) on Tuesday reported higher-than-expected earnings for the fourth quarter of 2024, driven by…

    Western Europe’s Biggest Oilfield Shut Down Due to Power Outage

    ByTsvetana Paraskova– Feb 04, 2025, 7:30 AM CST Following a power outage, Equinor on Tuesday suspended all production at the huge 755,000-bpd Johan Sverdrup oilfield in the North Sea, Western…

    Have You Seen?

    Trump Set to Reimpose ‘Maximum Pressure’ on Iran, Aims to Drive Oil Exports to Zero

    • February 5, 2025
    Trump Set to Reimpose ‘Maximum Pressure’ on Iran, Aims to Drive Oil Exports to Zero

    Encino’s Owner Mulls $7 Billion Sale, IPO of Energy Producer, Sources Say

    • February 5, 2025
    Encino’s Owner Mulls $7 Billion Sale, IPO of Energy Producer, Sources Say

    Trade War With China Casts Dark Cloud Over New US LNG Projects

    • February 5, 2025
    Trade War With China Casts Dark Cloud Over New US LNG Projects

    Marathon Petroleum Tops Q4 Earnings Estimates Despite Falling Refining Margins

    • February 5, 2025
    Marathon Petroleum Tops Q4 Earnings Estimates Despite Falling Refining Margins

    Western Europe’s Biggest Oilfield Shut Down Due to Power Outage

    • February 4, 2025
    Western Europe’s Biggest Oilfield Shut Down Due to Power Outage

    US NatGas Prices Fall 5% on Lower LNG FeedGas, Tariff Delays

    • February 4, 2025
    US NatGas Prices Fall 5% on Lower LNG FeedGas, Tariff Delays

    China Kills Energy Trade With the US, But Initial Impact is Limited: Russell

    • February 4, 2025
    China Kills Energy Trade With the US, But Initial Impact is Limited: Russell

    Japanese Mitsui Considers Supporting a $44-Billion Alaska LNG Project

    • February 4, 2025
    Japanese Mitsui Considers Supporting a $44-Billion Alaska LNG Project

    UK Considers Withdrawing $1-Billion Financing for Mozambique LNG

    • February 4, 2025
    UK Considers Withdrawing $1-Billion Financing for Mozambique LNG

    Shell Resumes Production From UK North Sea Oilfield After Redevelopment

    • February 4, 2025
    Shell Resumes Production From UK North Sea Oilfield After Redevelopment