logo
episode-header-image
May 6
24m 8s

Is the clean energy economy doomed?

MARKETPLACE
About this episode

So far, President Trump’s “drill, baby, drill,” agenda has proven to be a sharp turn from Biden-era climate initiatives, including the landmark spending bill the Inflation Reduction Act (IRA). 


And thanks to President Trump’s attempts to claw back control over IRA funds, as well as his recent budget proposal which drastically cuts climate spending, the future of America’s fast-growing clean energy economy looks uncertain. 


“The world is switching to electric vehicles, the world is switching to solar and wind,” said Christopher Knittel, economics professor and associate dean for climate and sustainability at the MIT Sloan School of Management. “And the less we do domestically, the less capability we build domestically to provide those clean energy resources, the worse off our industries will be in the future.”


Knittel explains President Trump’s efforts to phase out Biden-era climate initiatives, why some Republicans are reluctant to get rid of the IRA entirely, and why the U.S. getting left behind in a world committed to decarbonization poses a threat. 


Plus, the new Canadian Prime Minister Mark Carney told President Trump that Canada is “not for sale” in a meeting earlier today. And, the REAL ID deadline is coming in hot, though not all states seem equally prepared. 


Then, we’ll hear about how Seattle businesses are showing love for Canadian visitors and a listener share’s her daughter’s frustrations with “shrinkflation.”


Here’s everything we talked about today:


- Trump administration cancels clean energy grants as it prioritizes fossil fuels by AP News


- What Trump's budget cuts could mean for the environment by AP News


- The Race to the Top in Six Charts and Not Too Many Numbers from RMI


- Republicans haggle over green tax credits as battle lines deepen from Politico


- How We Survive from Marketplace


- Trump’s trade war with Canada has backfired on America. Now he has a crucial meeting with Mark Carney from CNN Business


- Trump knocks Canada ahead of Carney meeting by The Hill


- @carlquintanilla.bsky.social‬ on Bluesky


- What you need to know about the REAL ID requirements for air travel from NBC News


- Real ID deadline is weeks away and most states aren't fully compliant yet from CBS News


- Seattle Restaurants Are Offering Canadian Tourists a Discount, and an Apology by Eater Seattle


Got a question or comment for the hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Up next
Aug 22
Economics on Tap: Anime Edition
On the show today, Kimberly joins us from the anime convention AnimeNYC to share more about the economic impact of the anime industry and what cosplayers and business owners are saying about the economy right now. Spoiler alert: Tariffs are top of mind! And, we’ll weigh in on cor ... Show More
26m 48s
Aug 21
What to know about changing COVID vaccine guidelines
COVID-19 cases are on the rise again, and the federal guidelines for who should get vaccinated are in flux. We’ll unpack how it could impact what insurers are willing to cover this fall. And, as President Trump’s federal takeover of Washington D.C. continues, why is the city so q ... Show More
16m 7s
Aug 20
Trump turns up the heat on the Fed
Ahead of the central bank’s big meeting in Jackson Hole this week, President Trump is ramping up pressure on the Federal Reserve, calling for Fed governor Lisa Cook to resign over accusations of fraud. We’ll get into it. And, SpaceX got a win in federal court that could have last ... Show More
23m 56s
Recommended Episodes
Jul 17
How to fight against Trump’s attack on clean energy
The One Big Beautiful Bill Act cuts almost $500 billion in US clean-energy spending, just as the country was starting to get serious about its climate goals. Some say the country is acting like a petrostate, waging war against clean energy. Others are more sanguine and believe th ... Show More
31m 20s
Oct 2024
Could the US Election Reshape the Energy Sector?
Our expert panel explains whether the US election will impact energy policy, including how the Inflation Reduction Act’s possible fate and increased tariffs could transform the sector. ----- Transcript ----- Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Mor ... Show More
7m 7s
Jul 29
Editor’s Pick: How Economic Warfare Impacts Energy
Six months in, President Trump’s trade war has entered a new phase. Just this weekend, the European Union agreed to a trade deal that includes a promise to buy $750 billion worth of American energy products over the next three years. And this week, with the August 1 tariff deadli ... Show More
1h 2m
Jan 2025
What’s Next for America’s Energy Policy?
President Donald Trump’s administration is promising an energy policy overhaul that would fundamentally reshape America's climate and energy policies. Trump and Republican leaders have pledged to pull back from many of the Biden administration’s climate actions, including parts o ... Show More
52m 44s
Mar 2025
Trump: Economy In ‘Transition', Mark Carney Wins & Germany's Identity Crisis
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes mar ... Show More
16m 41s
Feb 2025
The Trump trade war begins
Donald Trump hit Canada, Mexico and China with steep tariffs on Saturday, and oil and gas groups are relying more heavily on carbon offsets to reach climate targets. Plus, EU governments are exploring ways to include the UK and Norway in a “coalition of the willing” dedicated to ... Show More
11m 39s
Nov 2024
Is This the Future of Clean Energy Under Trump 2.0?
Our Sustainability analysts Stephen Byrd and Laura Sanchez discuss the range of impacts that the Republican sweep may have on energy policy and the ESG space. ----- Transcript ----- Stephen Byrd: Welcome to Thoughts on the Market. I'm Stephen Byrd, Morgan Stanley's Global Head of ... Show More
7m 33s
Feb 2025
UPDATE: EU Will Impose 'Countermeasures' Against Trump Tariffs
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The European Union says it will respond to any tariffs the US might impose on it. The warning comes after President Trump pushed forward with his pledge to place a 25% tariff on all US s ... Show More
20m 27s
Mar 2025
What's Going On With the Economy?
Over the weekend, President Donald Trump said he wasn’t going to rule out a recession in the U.S.'s future. WSJ's Ashby Jones explains the cracks starting to appear in the economy and Brian Schwartz reports on how the White House is managing those cracks. See The Journal live! Ta ... Show More
21m 1s
Nov 2024
The US dollar surges
President Joe Biden has authorised Ukraine to launch limited strikes into Russia using US-made long-range missiles, and the world’s largest economies are gathering in Brazil for a G20 summit overshadowed by Donald Trump. The US dollar is rallying, as markets expect that the next ... Show More
11m 57s