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Will U.S. increase clean energy spending by more than 10% in 2025?
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Senate•Scott Bessent•Donald Trump•Ron Wyden•China•Bessent•Inflation Reduction Act•IRA•Congressional Budget Office•CBO
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U.S. government budget reports and Congressional Budget Office (CBO) publications
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Trump's Treasury Nominee Bessent: China's 100 Coal Plants Show Energy Race, Not Clean Energy
Jan 16, 2025, 05:08 PM
During a Senate hearing, Scott Bessent, Donald Trump's nominee for Treasury Secretary, challenged Senator Ron Wyden's assertion that the U.S. is engaged in a "clean energy arms race" with China. Bessent highlighted that China plans to construct 100 new coal plants this year, emphasizing that the competition is not about clean energy but rather an overall energy race. He also mentioned China's plans to build ten nuclear plants, further underscoring the difference in energy strategies between the two nations. Bessent's comments suggest a critique of the Inflation Reduction Act (IRA), noting its significant spending on what he perceives as an over-emphasized clean energy initiative, as scored by the Congressional Budget Office (CBO).
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