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Think tank says Americans will pay thousands of dollars more for energy because of Trump policies
A new analysis from a nonpartisan San Francisco think tank says the energy policies enacted by the Trump administration will lead to higher energy prices, lost jobs and worsening air pollution. Published Thursday, the Energy Innovation report estimates U.S. households will pay about $6,500 more for energy from 2026 to 2040 due to the effects of the One Big Beautiful Bill Act that President Donald Trump signed last year and congressional and Trump administration energy policies that have been put in place during his second term. The analysis expects gasoline prices to increase 54 cents per gallon in 2035 and 93 cents per gallon in 2040 because of policies that promote fossil fuels and reduce innovations in efficiency. Federal cuts to innovation and domestic manufacturing, along with policies in the OBBBA, will cost the country an average of 390,000 jobs per year, the analysis found, while slowing electrification and the manufacturing of domestic energy will cost state economies $1.3 trillion. The Energy Innovation analysis comes as many Americans are already struggling with higher prices. Gas prices were about $3.10 per gallon when Trump began his second term; they now average $4.40, according to AAA. The bipartisan Joint Economic Committee said...
