Sec. Wright: Spending Hundreds of Billions in Gov’t Subsidies Was a Driver of Increased Electricity Prices, the Trump Admin Is Reversing All of That

EXCERPT:

WRIGHT: “These are blue state policies, and they were Obama administration policies and Biden administration policies. Seventeen years ago, the Democrats decided they're the party of expensive energy. They're the party of unreality. We're going to oppose fossil fuels, even though they're 80 percent of American energy and 80 percent of global energy. We're going to close coal plants, make it hard to build new gas plants, close nuclear plants, and we're going to bet the farm on the sun and the wind. That was a disastrous bet that drove high electricity prices and stopped any growth of American electricity production. Fortunately, with the working families tax cut, we just, July 4, we just passed the day that those subsidies are no longer available if you start construction on a project today. Ironically, spending hundreds of billions of dollars of government subsidies was a driver of increased electricity prices. Normally, you have a huge subsidy, you push the price of something down. They lost twice. Spend massive subsidies, make electricity more expensive. But the Trump administration is reversing all of that. You will see an end to the rise of the electricity prices.”