"No Loans for You" As Chris Wright's DOE Cancels $30 Billion in Stupid Green Loans!

Guest post by Jim Willis of Marcellus Drilling News.

Last Thursday, the Trump administration announced it is restructuring or terminating approximately $84 billion in clean energy projects (boondoggles) initiated during the Biden era, reflecting a sharp pivot toward “energy dominance” through fossil fuels and nuclear power.

Rebranded as the Office of Energy Dominance Financing (EDF), the agency has canceled $30 billion in “green” loans, including major wind and solar transmission projects, while revising another $53 billion in loans.

Under Energy Secretary Chris Wright, the office—which holds $290 billion in lending power—will prioritize coal, oil, and gas over renewables, marking a significant reversal of previous climate-focused infrastructure investments.

Reuters reports:

The Trump administration said on Thursday it is restructuring or eliminating nearly $84 billion in clean energy projects funded during the administration of former President Joe Biden.

The move was the latest by President Donald Trump’s administration to favor fossil fuels and nuclear energy while eliminating subsidies for alternative energy like wind and solar.

The changes by the Office of Energy Dominance Financing, or EDF, come after a review of $104 billion in loans made during the Biden administration with the majority of that coming after the 2024 presidential election. The office was known then as the Loan Programs Office.

The Trump administration has canceled or is in the process of terminating nearly $30 billion in loan obligations, the department said. The cancellations include, for example, one from last year of $4.9 billion for the Grain Belt Express transmission project to send power from wind and solar energy projects to cities in the Midwest and East.

The Trump administration has eliminated about $9.5 billion in loans to wind and solar projects and where possible has replaced those by supporting new capacity at natural gas and nuclear power plants, the department said.

The department is also revising another $53.6 billion in loans.

The 2025 tax law provided the office with billions in new lending authorities, and the EDF is the world’s largest energy lender with nearly $290 billion in available lending, according to the department.

Energy Secretary Chris Wright said in November the biggest use of the remaining loans will go to boost nuclear power. The department said priorities will include coal, oil, and gas, and projects on critical minerals, geothermal, the power grid and manufacturing and transportation.

The announcement from the Department of Energy that Biden’s Green New Scam is officially over:

The U.S. Department of Energy (DOE) announced today that the Office of Energy Dominance Financing (EDF) is restructuring, revising, or eliminating more than $83 billion in Green New Scam loans and conditional commitments from the Biden-era loan portfolio. This action follows an exhaustive first-year review of the previous administration’s $104 billion principal loan obligations, including approximately $85 billion rushed out the door in the final months after Election Day.

Previously known as the Loan Programs Office (LPO), EDF continues to reform the office to more responsibly steward taxpayer dollars and support financing opportunities that accelerate the deployment of affordable, reliable, and secure American energy. During the first year of the Trump administration, EDF conducted a thorough review of each borrower to ensure loans were a responsible investment of taxpayer dollars and aligned with the Administration’s priorities.

“Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars,” Secretary Wright said. “We found more dollars were rushed out the door of the Loan Programs Office in the final months of the Biden Administration than had been disbursed in over fifteen years. President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy. Thanks to the Working Families Tax Cut, the newly re-structured Energy Dominance Financing is playing a key role in fulfilling that mission.”

EDF has eliminated around $9.5 billion in government-subsidized, intermittent wind and solar projects, and is replacing them with investments in natural gas and nuclear uprates that provide more affordable and reliable energy for the American people. Of the $104 billion in Biden-era principal loan obligations, EDF has completed or is in the process of de-obligating almost $30 billion, with another $53 billion in revision.

EDF currently has more than $289 billion in available loan authority, including in the Energy Dominance Financing Program with expanded eligibility criteria thanks to President Trump’s Working Families Tax Cut. This funding makes EDF the largest energy lender in the world. EDF has re-structured around a foundational mission to lower electricity prices, empower the private sector to invest in the future, help win the AI race, strengthen American industry, and restore American Energy Dominance.

For more information from EDF, click here.

We’re sure the Environmental Defense Fund (EDF), a radical left green group, is not happy that Team Trump has co-opted its acronym. Love it!

#NaturalGas #EDF #ChrisWright #Funding #MarcellusDrillingNews #Trump #DOE #GreenLoans

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