Louisiana is testing the waters of offshore wind energy in the Gulf of Mexico, but the Trump Administration’s executive order may block all such projects. The move is seen as a blow to renewable energy and the economy.
President Trump has signed an executive order that puts a halt to all offshore wind energy projects. He believes fossil fuels are the way forward, despite the growing need for clean energy. However, Louisiana views offshore wind as a job creator and a way to reduce electricity price volatility.
Experts say the administration’s strategy will lower energy costs, create jobs, and meet energy demand. But states like Louisiana believe it will have negative consequences, including economic damage and harm to the environment.
The Inflation Reduction Act (IRA) is at risk if offshore wind projects are blocked. If the law dies, consumers could face $32 billion in higher energy bills by 2035, while GDP falls by $190 billion. Hundreds of thousands of jobs would also be lost.
Aurora Solar’s senior solar researcher, Fox Swim, warns that the administration will rewrite environmental laws and revise tax credits for renewable energy technologies. The Endangerment Finding, which regulates greenhouse gas emissions, may be rewritten to say “climate is not a problem.”
Despite Trump’s efforts, many business owners still support the IRA. 57% of business owners favor keeping the law, while only 29% want it repealed. Homeowners’ awareness of the IRA has skyrocketed from 51% in 2024 to 77% in 2025.
The market is driving sustainability efforts. American companies like Cisco, Oracle, and IBM are leading the way. Coal’s share of electricity has fallen from 50% in 2008 to 16% today, while renewables have blossomed.
Swim warns that corporations may reverse their net-zero goals, but says there are strong conservative and economic cases for renewables. Supporters must push legislators to support renewable energy policies that benefit their communities.
The administration’s actions will have significant economic fallout if the IRA is destroyed. While Trump knows how to read the political landscape, his focus on the past may hinder the country’s future promise.
Source: https://www.forbes.com/sites/kensilverstein/2025/03/23/if-trump-destroys-inflation-reduction-act-economic-fallout-will-come