The US cuts $3.7 billion in green energy investment - Latest News

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The US cuts $3.7 billion in green energy investment

Economies & Policies

Aug 11, 2025

879

USgreen energy

The U.S. Department of Energy recently announced that it has canceled 24 green energy projects awarded during the Biden administration, totaling over $3.7 billion in government funding. The Trump administration said it is reviewing public funding and loans issued by the Biden administration for emerging technology projects.

The Trump administration is seeking to maximize oil and gas production while reversing a series of Biden administration policies on climate and clean energy. The projects canceled by the DOE include $332 million for ExxonMobil's Baytown integrated refinery in Texas; $500 million for Heidelberg Materials' project in Louisiana; and $375 million for Eastman Chemical's project in Longview, Texas. The funding for the Baytown project aims to produce ethylene using hydrogen instead of natural gas, thereby reducing carbon emissions.

The DOE stated that nearly 70% of the funding for these projects was awarded between November 5, 2024, and January 20, 2025.

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