The US is turning its attention to offshore wind energy, with Louisiana as a prime example of the shift towards renewable sources. However, President Trump’s administration has taken drastic measures to block all offshore wind projects in federal waters.
Trump signed an executive order banning offshore wind energy developments, despite bipartisan support for the initiative. The move has raised concerns about the long-term impact on the environment and economy. Louisiana, known as an oil and gas state, sees offshore wind as a job creator and a way to reduce electricity price volatility.
Industry experts warn that if the Inflation Reduction Act (IRA) is dismantled, it could lead to significant economic losses, including $32 billion in energy bills and a decrease in GDP by 2035. The administration’s efforts to dismantle the law may be part of a broader strategy to rewrite environmental regulations and limit tax credits for renewable energy.
A recent survey revealed that 57% of business owners favor keeping the IRA, while 29% want it gone. Homeowners’ awareness of the IRA has increased from 51% in 2024 to 77% in 2025. The government uses subsidies to promote clean energy and industry policy, and corporations are taking a leading role in sustainability efforts.
The administration’s actions have sparked controversy, with critics accusing Trump of being driven by vindictiveness rather than the greater good. Market powers, such as American businesses, may hold more sway over presidential decisions than initially thought.
As the country grapples with the challenges of climate change, industry experts urge supporters to push legislators for tangible benefits and to advocate for policies that make sense for their state and community. The long-term impact of Trump’s energy agenda remains uncertain, but one thing is clear: the stakes have never been higher.
Source: https://www.forbes.com/sites/kensilverstein/2025/03/23/if-trump-destroys-inflation-reduction-act-economic-fallout-may-come