Trump administration considers additional hurdles for wind energy
In a press release, it said that it would undertake a review to consider 'whether to stop onshore wind development on some federal lands and halting future offshore wind lease sales.'
In addition, the Interior Department will review bird deaths associated with wind energy. The Trump administration has weakened protections on migratory birds when they're killed by companies generally.
The wind move comes after Trump again railed against wind energy while visiting Europe over the weekend.
'These policy changes represent a commonsense approach to energy that puts Americans' interests first,' said Interior Secretary Doug Burgum in a written statement.
They follow a series of other actions taken by the Trump administration to hamper wind energy development as the president has repeatedly made clear his distaste for wind power.
The Interior Department recently said it will also put solar and wind projects through an elevated review process that is expected to significantly slow down their approval.
One of the first moves of Trump's presidency was also a pause on federal wind approvals.
While the last Trump administration pledged to support an 'all of the above' energy strategy, this time around the administration has made clear that it favors fossil fuels and other energy sources like nuclear while it tries to hold up solar and wind energy development.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
5 minutes ago
- Newsweek
Wealthy Americans Buy Up London Mansions Amid Price Slump
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Wealthy Americans are taking advantage of the ongoing slump in London's luxury home market to snap up properties in the city for a significantly lower price than these mansions would have fetched a few years ago. According to data from Beauchamp Estates, a luxury real-estate agent in the U.K. capital, U.S. nationals accounted for 25 percent of prime purchases in the city last year, up from 18 percent in 2023. In the first six months of the year, American and Middle Eastern buyers together were behind 50 percent of all high-value transactions in London, up from 45 percent in 2024, which include deals totaling more than £15 million ($20 million). Swimming Against the Tide American buyers are flocking to the London luxury home market at the same time as many so-called non-doms—U.K. residents whose permanent home, for tax purposes, is outside the U.K.—are leaving the capital. The Labour government, which has led the U.K. since last year's general elections, has announced plans to abolish the non-dom tax status. Under current laws, non-doms pay taxes in the U.K. only on the money they earn in the country. They do not pay taxes made anywhere else in the world. This offers an incredible advantage to wealthy individuals who can choose to pay duties in states with lower taxes than the U.K. while effectively still living in the U.K. According to the latest data by the country's HM Revenue & Customs, some 74,000 people claimed non-dom status in 2022-2023. A general view of large residential town houses in Green Street, Mayfair, in London on January 9. A general view of large residential town houses in Green Street, Mayfair, in London on January changes announced by the British government, the non-dom status would be abolished and replaced with a residence-based regime. Non-doms living in the U.K. have been given a three-year period of transition to bring their foreign wealth onshore. Non-doms' recent exodus from the U.K. has caused London's luxury home market to wobble, with sales and prices falling in recent months. According to Beauchamp Estates, there has been a 13 percent drop in the number of deals for the sale of $20 million-plus homes in the capital between January and June compared to a year earlier. The company said 70 percent of the vendors of these high-end homes were non-doms moving overseas to places such as Miami, Dubai, Milan and Monaco. "The top of the market has lost momentum—and much of that comes down to the government's stance on non-doms," Becky Fatemi, the executive partner at Sotheby's International Realty U.K., told Newsweek. "The message couldn't be clearer: International wealth isn't as welcome as it once was. Predictably, some of the biggest global buyers have backed off, pulling out of deals or funneling their money into more tax-friendly markets like Italy, Monaco, and Dubai," she added. That's left a noticeable hole in the high-end home market. "Trophy homes that once sparked bidding wars are now sitting—not because the appetite has vanished completely, but because buyers are more selective, price-sensitive, and wary," Fatemi said. "Deals are still happening, but they're slower, tougher, and take serious effort to get over the line. Behind every sale, there's a lot heavier lifting." But as the superrich leave London and slash prices on the properties they are leaving behind to attract new buyers, wealthy individuals who previously could not have afforded these luxury homes are finally swooping in—including many Americans. Why Are Wealthy Americans Seeking Properties in London? "Americans were never eligible for non-dom perks—the IRS taxes them globally, wherever they live—so the U.K.'s reforms are largely irrelevant," Fatemi said. "While other international buyers reassess, Americans are charging in. With Trump back in the White House, we're seeing a spike in U.S. clients who want out—not just for political reasons, but for lifestyle ones, too," she added. "London offers everything they want: relative stability, culture, top schools, and prime property that still looks like a bargain thanks to the strong dollar. These aren't speculative purchases; they're buying real homes, with real intent," Fatemi said. The London properties that wealthy Americans are buying are concentrated in some of the most expensive and exclusive neighborhoods in the city—such as Chelsea, Mayfair, Kensington, Notting Hill, Belgravia, St. John's Wood and Hampstead—according to data from Beauchamp Estates. They include homes averaging 9,230 square feet and apartments spreading over an average 5,397 square feet—notably bigger properties than those purchased in 2024. For Beauchamp Estates, this means that buyers are looking at these homes as primary residences "with lateral space and long-term livability." Rising living costs and growing crime rates in the U.S., combined with political uncertainty and tax-driven wealth increases, are behind the surge in interest for London's luxury homes among American buyers, according to Beauchamp Estates. Even with a softer dollar, "the pound is still weak compared to pre-Brexit days, and prime prices haven't rebounded to 2014 levels, so there's value on the table" for American homebuyers, Fatemi said. "But the bigger driver is mindset. When someone's ready to leave the U.S.—for politics, lifestyle, or a sense of security—they're not waiting for the perfect exchange rate. They want somewhere livable, stable, and globally connected. London ticks every box," she said. "Currency helps, but it's not the full story. What we're seeing is a deeper, more personal shift, and it's not going anywhere."
Wall Street Journal
9 minutes ago
- Wall Street Journal
Stock Market Today: Flurry of Trade Deals Boosts Dow, S&P 500 Futures — Live Updates
Trade deal and tariff announcements are gathering speed ahead of President Trump's Friday deadline, while big-name earnings roll in. Stock futures rallied and the dollar weakened after the U.S. and South Korea reached a trade deal late Wednesday. The U.S. will apply 15% tariffs in return for duty-free treatment on many American products, Trump said. South Korean automobiles will be included in the 15% tariff rate, down from a proposed 25%, according to a senior Seoul official. Also on Wednesday, the president announced a 25% levy on India's goods and hiked Brazil's tariff to 50%. He said the Aug. 1 deadline for countries to strike trade deals or face hefty tariffs won't be extended again.
Bloomberg
22 minutes ago
- Bloomberg
Tariff Shock Puts Team Modi in a Tight Corner
President Donald Trump has put the Indian prime minister in a tight corner. The 25% tariff that he says he'll impose on US imports from the most-populous nation isn't significantly higher than the rates he has announced for Southeast Asian countries like Vietnam, Indonesia and the Philippines. But there is a catch: a penalty that will punish New Delhi for its 'most strenuous and obnoxious' non-tariff barriers — and for buying Russian military equipment and energy. The quantum of the retribution was not specified in the president's Truth Social post, even though the new tariffs are scheduled to come into force from Friday. Therefore, my first reaction is that it's a bluff — a bargaining tactic. Trump wants last-minute sweeteners thrown into whatever trade deal Narendra Modi's negotiators have put on the table.
