‘CANCELED’: President Trump Issues Massive Blow to Radical Left

The Trump administration has moved decisively to dismantle the Biden-era green energy financing apparatus, canceling nearly $30 billion in clean energy loans and launching a review of an additional $53 billion as part of a sweeping audit of the Department of Energy’s loan portfolio, Energy Secretary Chris Wright announced Friday.

The move represents one of the most consequential reversals yet of former President Biden’s climate agenda and highlights President Donald J. Trump’s second-term push to realign federal energy policy around affordability, reliability, and national security rather than ideological climate mandates.

“Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars,” Wright said in a statement. “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.”

According to the Department of Energy, the canceled financing originated from what officials now describe as hastily approved “Green New Scam loans,” many of which were authorized with minimal oversight during Biden’s final months in office. The Office of Energy Dominance Financing (EDF), a restructured replacement for Biden’s Loan Programs Office, concluded the funding spree exposed taxpayers to massive financial risk.

Roughly $9.5 billion in loans tied to wind and solar projects were terminated outright. Those funds, the department said, will be redirected toward expanding natural gas infrastructure, developing small modular nuclear reactors, and upgrading aging power plants — investments Wright said will make energy “more affordable and less dependent on foreign supply chains.”

“President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy,” Wright said. “Today’s cancellations deliver on that commitment.”

The loan cancellations follow months of internal restructuring at the Energy Department, as the Trump administration works to unwind what officials have labeled politically driven “green slush funds” created under the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA).

More than $25 billion in BIL energy appropriations and $4.3 billion in IRA funds were left unspent when Biden left office. An additional $11 billion in IRA funding was formally rescinded under the One Big Beautiful Bill Act (OBBBA), legislation signed by President Trump to claw back unused climate subsidies and redirect the money toward domestic fossil fuel production and nuclear energy development.

A senior Energy Department official said the administration’s audit uncovered “systemic failures” in how grants and loans were approved during the Biden White House’s final year.

“Many of these programs were riddled with conflicts of interest and lacked due diligence,” the official said. “We had companies receiving billions in federal financing that were weeks away from insolvency.”

The scale of the rollback is unprecedented. Since May 2025, the Department of Energy has rescinded or suspended more than 340 clean energy awards totaling over $11 billion. The cuts include major industrial demonstration grants and several of Biden’s flagship Hydrogen Hub projects in California, Oregon, and Minnesota.

Altogether, nearly 17 percent of all BIL-awarded funds and 7 percent of IRA awards have now been canceled following the Trump administration’s review.

The department also confirmed that the Industrial Demonstration Program — a Biden-era initiative aimed at subsidizing green manufacturing — saw 18 of its 36 approved awards scrapped, wiping out nearly $3 billion in planned commitments.

Wright argued the programs failed to deliver meaningful results. “We cannot keep throwing taxpayer money at corporate handouts that don’t deliver energy security or economic value,” he said.

Administration officials say the changes reflect a broader strategic reset under President Trump. The Energy Department’s revamped Energy Dominance Financing office now controls $289 billion in loan authority, which will prioritize nuclear power, carbon capture technologies, and modernized natural gas infrastructure.

In October, the department canceled an additional $8 billion in green grants, halting 223 projects across 16 states after what Wright described as “a thorough, individualized review.” Those funds are now being redirected toward rural energy development, critical mineral extraction, and coal plant modernization.

“Rest assured, the Energy Department will continue reviewing awards to ensure every dollar works for the American people,” Wright said. “The era of blank checks for politically connected green ventures is over.”