Trump Threatens to ’Kill’ $12B in Clean Energy Grants, Targets Occidental Project

President Trump's administration is moving to cancel an additional $12 billion in clean energy funding, doubling down on its fossil fuel agenda. The so-called 'kill list' targets carbon capture and hydrogen projects approved under Biden, including Occidental Petroleum's South Texas Direct Air Capture Hub.

The cuts follow last week's $8 billion reduction in innovative energy funding. Trump's team dismisses renewables as ineffective, famously referring to wind turbines as 'windmills,' while championing a 'Drill, Baby, Drill' energy policy since taking office in January.

Market analysts anticipate Ripple effects across energy sectors, though the immediate crypto impact appears limited. Traders are monitoring whether traditional energy market volatility could drive capital toward alternative assets.