Big Oil is mad the candidate it bought is raising its costs with tariffs
The oil industry is asking for carveouts from tariffs which will raise its cost of doing business – and your cost of energy – after spending tens of millions in bribes on a candidate that promised to raise everyone’s costs.
Unfortunately for America and the world, the current occupier of the White House is convicted felon Donald Trump, who finally received more votes than his opponent on his third attempt (despite committing treason in 2021, for which there is a clear legal remedy).
Mr. Trump’s campaign repeatedly promised to impose broad tariffs, which would have the effect of increasing costs for every industry they affect, and therefore also raise prices. As we’ve covered before, tariffs are a generally bad idea – regardless of which political party proposes them – and generally have the effect of raising prices for consumers.
But despite hurting the economy, tariffs are for some reason still popular. So, just less than half of Americans voted for this inflation, and inflation is what they’re getting.
Also during his campaign, Mr. Trump asked Big Oil for a billion dollar bribe, in return for which he would end clean air policies. While Big Oil didn’t give him that billion dollar bribe, they did bribe him in the amount of tens of millions of dollars.
Regardless of not getting the bribe he wanted, the spineless reality TV host did the bidding of the oil industry anyway, and has already issued a memo via the Department of Transportation directing the government to raise your fuel costs by $23 billion. This is among many other actions already taken to harm clean air and otherwise disadvantage electric cars (despite Big Oil’s bribe being less than what the head of the largest EV company gave him, a donation which isn’t working out nearly as well for Tesla as some had hoped).
But now, Big Oil wants more.
It turns out, after giving tens of millions of dollars to a candidate that promised inflation, Big Oil is absolutely shocked that the same candidate’s policies are about to cause inflation.
So, in return for its bribes, the oil industry is asking Mr. Trump for carveouts from tariffs, because they worry that increased costs will threaten their profits.
Upcoming tariffs would come in the amount of 10% on Canadian oil and 25% on global steel and all cargo from Mexico. But it turns out, the oil industry uses a lot of those products, which means their costs would go up. And if their costs go up, they’ll have to raise prices for consumers if they want to remain profitable.
Not only that, but another reason that tariffs raise costs is due to the likely imposition of retaliatory tariffs from other countries (as we’ve seen before, ruining US industries). US oil companies like having access to overseas markets, and retaliatory tariffs may threaten this, making it harder for them to sell their goods overseas.
And so, a spokesman from the American Petroleum Industry, the front group for the American oil cartel, stated yesterday that the API wants to make the case that it should be given a special carveout in return for its bribes, allowing it to avoid the increased costs that you, the consumer, will not be given any special carveouts from.
The API says that Mr. Trump’s “energy dominance agenda” – an Orwellian doublespeak title for a set of policies that will have the effect of increasing your energy costs and ensuring China takes the lead on energy going into the future – is “more important than the tariff agenda.” And that “there’s a lot of time between now and then for us to make the case about the importance of certain steel products and certain countries that are going to be important for the industry.”
It is unlikely that those products will be the ones you’re buying, rather the ones the oil industry is buying. But surely the oil industry, widely known for its benevolence, will pass those savings along to you. Right?
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Tesla and Honda are set to purchase all the power from Delilah I, a new 300 MW solar farm in Texas.
The Delilah I Solar Energy Center in Lamar and Red River counties, approximately 140 miles northeast of Dallas, is now online. Honda is securing 200 MW, and Tesla is taking 100 MW through virtual power purchase agreements (VPPAs). The energy is being fed into the local grid. The project was developed by Invenergy and is majority-owned by Milwaukee-based WEC Energy Group, which acquired it in April.
Delilah I is part of the five-phase Samson & Delilah solar portfolio, one of the largest solar facilities under construction in the US. WEC Energy Group already owns a majority interest in Samson I — a separate phase of the Samson & Delilah project.
Invenergy highlighted the role of landowners and the local community in bringing the project to life, creating jobs, and adding more US-made clean energy to the grid.
“In North America, Honda is nearing its goal of sourcing 100% of its electricity from carbon-free sources,” said Daniel Bremer, carbon neutrality manager at American Honda Motor Co. “As we accelerate toward achieving carbon neutrality for all products and corporate activities, our 200 MW VPPA with Delilah I Solar Energy Center will significantly cut CO2 emissions from Honda US auto manufacturing operations while adding more clean energy into the local grid.”
Read more: A vast 600 MW Texas solar farm just hit a major milestone
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Danish renewables developer European Energy (EE) has completed the sale of its largest solar farm in the US to date.
Copenhagen-based European Energy said it sold the solar farm to an undisclosed buyer so that it can develop, deliver, and recycle capital into new US renewable energy projects. EE develops solar, onshore and offshore wind, power-to-X, and battery storage projects. It arrived in the US in 2021 and has an office in Austin.
Lorena Ciciriello, chief executive of EE North America, said, “Our goal in the US is to create a broad portfolio of renewable energy solutions, and this sale is an important step in realizing our strategy.”
It’s the Danish developer’s “second major divestment” in the US since European Energy entered the solar market in 2021, bringing the total capacity divested to 800 MW. The company sold its first US solar farm, Yellow Viking in Texas, in 2023.
When fully operational, the still unnamed solar farm – EE doesn’t say where in the US it’s located, either – is expected to produce around 1,389 GWh of electricity annually, equivalent to the annual consumption of 128,000 US households.
“We remain committed to developing renewable energy projects in the USA that drive local growth and create jobs,” said Thorvald Spanggaard, EVP and head of project development at European Energy.
Electrek’s Take
This announcement, which is light on details, piqued my interest. It’s a large solar farm sold by a large European-HQ’ed global company that says it’s committed to developing more renewables in the US, which is currently being run by a government that doesn’t consider solar or wind to be defined as energy. What’s the incentive for EE to do that? It sure isn’t federal tax incentives.
What’s coming down the pipeline for renewable projects in the US? Everyone is speculating, but no one knows – not even Republicans, despite the risks of renewable project collapses being highest in their own states. I will make an educated guess and say that EE will sit on its sale proceeds and wait for clarity, which they may never get. That’s because the Trump administration memos and executive orders are deliberately designed to be vague. Chaos is a form of control.
Read more: Republican districts lose billions as clean energy cancellations surge
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