A recent report from the nonpartisan think tank Energy Innovation highlights significant negative effects stemming from the energy policies implemented during the Trump administration, predicting higher energy costs, job losses, and increased air pollution.
Key findings from the report include:
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Increased Costs for Households: The analysis estimates that U.S. households could face approximately $6,500 in additional energy expenses from 2026 to 2040 due to the One Big Beautiful Bill Act and various policies enacted during Trump’s second term.
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Rising Gas Prices: Gas prices are projected to rise by 54 cents per gallon by 2035 and 93 cents by 2040, attributed to policies that promote fossil fuel usage while hindering efficiency innovations.
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Job Losses: The energy policies could lead to an average of 390,000 jobs lost per year and cost the U.S. economy around $1.3 trillion, mainly by slowing down electrification and domestic energy manufacturing.
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Context of Current Prices: As of now, gas prices have risen from approximately $3.10 per gallon at the start of Trump’s second term to an average of $4.40, amid broader rising costs for goods and services.
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Government Response: The White House claims that lowering electricity prices is a priority for Trump and asserts that he is revitalizing domestic energy sources like coal and natural gas, which they say were undermined by Biden’s administration.
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Criticism of the Report: White House spokesperson Taylor Rogers questioned the report’s nonpartisan status, citing the political affiliations of its leadership.
The report attributes its forecasts to various policy changes made in Trump’s second term, including the repeal of numerous environmental regulations and tax credits for renewable energy sources. It suggests that states could potentially mitigate some of these negative impacts through their own clean energy initiatives.
