Trump "controls" Biden's decisions - $15 billion in energy funds will be reviewed by the new administration
The Trump administration announced it will conduct an audit of nearly $15 billion in grants. The grants were awarded for power grid and manufacturing supply chain projects during the Biden administration. The audit aims to examine funds that were distributed quickly, especially in the final days of the Democrats.
President Donald Trump has been a vocal supporter of domestic oil, natural gas and coal production. Meanwhile, his administration has taken steps to halt construction of an offshore wind farm and eased regulations on fossil fuels. Last week, the administration proposed cutting funding for several projects, including those related to renewable energy and electric car chargers.
Concerns were raised by Energy Secretary Chris Wright about the rapid disbursement of billions of dollars. "The Department of Energy has worked hard to review the billions of dollars that were invested in a hurry, particularly in the final days of the Biden administration, and what we have found is troubling," Wright said.
The Department of Energy plans to review the materials and will request additional information from these companies. If it is determined that the projects do not meet the required standards, the agency may modify or terminate the project, according to a memo issued by Wright.
The Energy Secretary stressed the need for a thorough due diligence process before funds are distributed. "Any reputable business will have a process for evaluating expenses and investments before money is invested. The American people deserve no less from their federal government," Wright said.
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