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What we learned about “energy dominance” on Day One.

Here we go: On Monday, Donald Trump was sworn in as the 47th president of the United States.
Surrounded by some of the country’s richest men, including Elon Musk, Mark Zuckerberg, and the oil magnate Harold Hamm, Trump rejected what he called a “radical and corrupt establishment” that has “extracted power and wealth from our citizens” while promising a new golden age for the United States.
At the center of that golden age, he said, was an almost totally unregulated fossil fuel economy. “Today I will also declare a national energy emergency,” he said. “We will drill, baby, drill.”
Over the next 12 hours, he signed a series of executive orders that relaxed protections across the oil and gas sector while imposing costly new restrictions on wind turbines, electric vehicles, and other forms of renewable energy. He demonstrated that his extreme vision for the American government — a new order where the executive reigns supreme and Congress does not control the power of the purse — will run straight through his climate and energy policy.
You could see in his actions, too, what could become fragility in his governing coalition — times and situations where he might too eagerly slap a cost on a friend because he believes they are a foe.
But all that remains in the future. For now, Trump is in charge.
Trump’s first day was about undermining climate policy in virtually any form that he could find. Soon after taking the oath, Trump began the process of pulling the United States out of the Paris Agreement on climate change. He announced a broad freeze on virtually all federal wind energy permits, throwing at least one large-scale onshore wind farm into chaos while smothering virtually all offshore wind energy projects, including several planned for the East Coast. He moved to weaken energy and water efficiency rules for lightbulbs, showerheads, washing machines, and dishwashers. He began the multi-year process of rewriting the Environmental Protection Agency’s rules on tailpipe pollution from cars and light trucks, which he has described as lifting the federal government’s “EV mandate.” And he promised to open up new tracts of federal land for oil and gas drilling, including in the Alaska National Wildlife Refuge.
But most important were a series of executive actions that Trump signed in the late evening, many under the bearing of a “national energy emergency.” In these orders, Trump told the Environmental Protection Agency to study whether carbon dioxide and other greenhouse gases are dangerous air pollutants. This question has been a matter of settled science for decades — and, more importantly, has not been under legal dispute since 2009. In the same set of orders, Trump lifted federal environmental and permitting rules, potentially setting up a move that could force blue states — particularly those in the Northeast and West Coast — to accept new oil and gas pipelines and refineries.
Finally, and most importantly, Trump asserted the right to freeze virtually all ongoing federal spending under the Inflation Reduction Act — and the Bipartisan Infrastructure Law — for 90 days. Even after this time elapses, funding programs will have to be approved by the White House Office of Management and Budget. This move places at least tens of millions of dollars of federal contracts at risk, and it raises questions about the federal government’s ability to operate as a reliable counterparty. It is also of dubious Constitutionality because it appears to violate Congress’s sole authority over federal spending.
The stated goal of many of these policies is to bring down energy costs for American consumers. The president’s national energy emergency, for example, takes as its premise that the country is growing its energy supply too slowly. The United States, it suggests, is at imminent risk of running out of energy for new technology. (You might ask yourself why — if this is the case — Trump has also frozen all federal wind projects. But then you misunderstand Trump’s particular genius.)
Yet bringing down costs will be difficult. Energy costs — and particularly oil costs — are already low. Today, as Trump’s second term begins, gasoline stands at $3.13 a gallon, according to AAA. That’s about five cents above where it stood a year ago, and it’s within the inflation-adjusted range where gas prices hovered for much of Trump’s first term. (Oil prices crashed in 2020 because of the pandemic, but the industry — and the American public — would obviously prefer not to repeat that debacle.)
How much further could energy prices fall? Look at it this way: A barrel of oil in the U.S. costs $76 today, per the West Texas benchmark. (The international benchmark, called Brent, is a smidge higher at $79.) Last year, oil producers across much of the Permian Basin reported that they could break even only if oil stayed at or above about $66 a barrel. The rough rule of thumb is that for a $1 change in the per-barrel oil price, drivers will eventually see a roughly 2.5 cent change in prices at the pump. You can see how hard it will be to push oil prices down to record lows, at least with current levels of economic activity, interest rates, and demand volumes.
Which isn’t to say that it’s impossible. Trump will have advantages when dealing with the oil and gas industry that his immediate predecessor did not enjoy. Chief among these is that the industry’s leaders like him, want to see him succeed, and will be more willing to do favors for him — even if it means suffering thinner margins. These may help keep a lid on electricity prices, which are far more sensitive to natural gas and which really are set to surge as a new wave of factories, EVs, and data centers comes online.
Maybe! We’ll see. When you look closer, what stands out about Trump’s policies is how few of them are designed to lower energy prices. Instead, they aim to do virtually the opposite: shore up oil and gas demand. According to The Wall Street Journal, ensuring demand for oil and gas products — and not deregulating drilling further — is what the industry has asked Trump to do. That makes sense. The United States is, at the moment, producing more oil and gas than any country in world history. The fossil fuel industry’s problem isn’t getting gas out of the ground, but finding people to sell it to. By suspending fuel economy and energy efficiency rules, Trump can force Americans to use more energy — and spend more on oil and gas — to do the same amount of useful work.
In other places, what stands out about Trump’s policies is their incoherence — and how few of his constituencies they will satisfy. Late on Monday, Trump suggested that he might impose 25% tariffs on Canada and Mexico as soon as February 1. Such an action would quickly harm key segments of the American energy industry. Canada exports about $124 billion of crude oil to the United States every year — much of it a heavy, sludgy petroleum from the Albertan oil sands. That sludge is piped across North America, then fed into U.S. refineries, where it helps produce a large portion of America’s fuel supply. (Alberta’s heavy, sulfurous sludge is particularly well-suited to mixing with the light, sweet crude produced by American frackers.) Should Trump impose those tariffs, in other words, he would gambol into a self-imposed energy crisis.
Tariffs are not the only place where Trump could undermine his own policies. One of his executive orders on Monday aimed to establish America as “the leading producer and processor of non-fuel minerals, including rare earth minerals”; three clauses later, it announced an end to the federal government’s so-called “EV mandate.”
But by kneecapping demand for electric vehicles, Trump will hurt the critical minerals industry more than any anti-growth hippie could fathom. For the past few years, corporate America and Wall Street have invested billions of dollars in lithium and rare-earths mining and processing facilities across the country. These projects, which are largely in Republican districts, only make financial sense in a world where the United States produces a large and growing number of electric vehicles: EVs make up the lion’s share of future demand for lithium, rare earth elements, and other geostrategically sensitive rocks, and any mines or refining facilities will only pencil out in a world where EVs purchase their output. If Trump kills the non-Tesla part of the EV industry, then he will also mortally harm those projects’ economics.
Energy is a strange issue. Although it is one of the key inputs into the modern industrial economy, millions of Americans engage with it as an expressive, symbolic matter — as just another battleground in the culture war. Today, Donald Trump has become the most powerful American in that category. On his first day in office, he has demonstrated that he will use energy policy to advance his extreme ideas about how the Constitution and presidential authority works. How far he gets now will depend on what the American public, business leaders, congressional Republicans, and the Supreme Court’s arch-conservative majority will accept — and whether his fragile constituency is really ready to pay the costs of “American greatness.”
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Local opposition has exacted a much higher cost for developers than has been previously understood, according to new Heatmap Pro survey of public records and financial information.
The country’s largest technology companies are expected to spend more than $800 billion this year investing in data centers and artificial intelligence.
But new data suggests the local backlash to data centers may be taking a meaningful bite out of that boom.
At least $260 billion of data center investments were canceled this year after sustained local opposition, according to new Heatmap Pro data.
The pace and size of those cancellations is picking up. About $130 billion in data center investment — or about half of the total — was canceled in the three months ending on September 30. And in dollar terms, the size of canceled projects in the third quarter of 2026 exceeded the size of all data center projects canceled last year.
Roughly $1 trillion in data center investment now faces some kind of sustained or meaningful local opposition, according to Heatmap Pro data. About half of all projects that have met local backlash this year were ultimately canceled, our data suggests.
Our market intelligence service Heatmap Pro tracks local projects and regulations affecting clean energy, batteries, and data centers. We run a continuous survey of public officials, regulatory filings, and local media to monitor energy and data center cancellations nationwide.
Our investment figures, which have not been previously published and are larger than other estimates, are likely an undercount. Only about 60% of data center projects disclose the size of their planned investment, especially during a proposal’s early stage when it is most likely to run aground.
These figures also do not include every project currently stalled because of state-level data center moratoriums in Texas and New York.
But the totals show that the surging backlash to data centers is beginning to kill a sizable share of large computing projects. In August, a Heatmap Pro and Embold Research poll found that 75% of Americans would oppose a data center getting built near where they live — a striking change from a year earlier, when Americans were roughly split over the projects.
“The number of canceled data centers speaks to the vast and growing grassroots opposition to these projects in communities across the country. The fact that many of these projects were defeated in just the past few months speaks to the upward trajectory of this opposition movement,” Mitch Jones, a policy director at Food and Water Watch, an environmental group that opposes AI data centers, said in a statement.
A spokesperson for the Data Center Coalition, which advocates for the industry, did not respond before press time.
Most canceled data center projects in our database are terminated because they fail to secure a local permit or face a hostile local government action. Hundreds of U.S. counties and towns now maintain a ban or moratorium on data center construction, our data shows. The Senate’s bipartisan permitting reform proposal would not affect towns or counties’ ability to prohibit data center development under their jurisdiction.
Current conditions: Cold air is sweeping into the American Northeast after a brief blast of summer-like heat that drove temperatures in New York City up to 85 degrees Fahrenheit last week • Hurricane Nolo crossed the International Date Line, officially becoming Typhoon Nolo • The heat wave roasting Southern California is straining the grid, causing outages for more than 23,000 people in the Los Angeles area.
Greenland’s government on Monday approved the mining and decommissioning plans for Critical Metals’ Tanbreez rare earths project, which Mining.com described as one of the world’s “larger undeveloped heavy rare earth projects outside China.” The preliminary economic analysis for the mine pegged its total value at $2.1 billion, with an estimated initial capital cost of $290 million. “Approval of the Mining and Closure Plans is a defining milestone for Tanbreez and for Critical Metals Corp.,” Tony Sage, the chairman and chief executive of Critical Metals, said in a press release. “It gives us a clear framework through 2050 to responsibly develop one of the world’s largest heavy rare earth deposits, in partnership with the government of Greenland and the communities of South Greenland.”
If it goes forward, the project could be among the first major rare earths mines in Greenland, where the Trump administration has claimed the right to veto any major foreign investments as part of the deal signed with the Danish government last month, which gives Washington perpetual security oversight over the self-governing North American island. Critical Metals, notably, is headquartered in New York, though its largest shareholder is the Australian mineral investor European Lithium Limited. Yet opening a new mine in the U.S. might be getting even easier. As my colleague Matthew Zeitlin reported last week, miners — ahem — struck gold with the regulatory changes in the bipartisan permitting reform bill.
The Department of Energy is preparing to unveil $150 million in funding for a 223-mile transmission line in Alaska that would serve nearly three-quarters of the state’s population of just 735,000 people. The move, reported first by Reuters, comes as Vice President JD Vance prepares to visit the state to support Republican Senator Dan Sullivan’s bid for reelection in what’s expected to be a tight race with Democrat Mary Peltola. The total cost of the project is $400 million.
First Solar built the largest photovoltaic manufacturing business in the U.S. by churning out thin-film panels that, while less efficient than the polysilicon-based technology popularized by China, perform better in low light and high temperatures, earning a solid market among utility-scale developers. But now Chinese manufacturer JA and its subsidiaries are allegedly muscling in on thin film — as is American Panel Solutions, a wholly owned U.S.-based subsidiary of the polysilicon giant Corning. First Solar now accuses the companies of illegally infringing its patent for manufacturing its solar cells, according to PV Tech. The Ohio-based giant has previously sued Jinko, Canadian Solar, T1 Energy, and Trina Solar. First Solar won a key preliminary victory in January.
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Starbucks has abandoned or watered down green targets and let go its sustainability staff as the coffee and food chain looks to cut $2 billion in costs. On Monday, the Financial Times reported that the company had revised or dropped pledges to halve water use and waste, and placed a target of slashing carbon emissions by 50% under review. While the pullback comes amid a broader retreat from environmental goals under the Trump administration, other coffee companies are still seeking to reduce pollution. Just yesterday, I told you that Keurig Dr. Pepper had come out with a version of its individual instant coffee pods that uses seaweed instead of plastic.
Type One Energy has raised a $200 million Series B as the startup races to develop the world’s first fusion power plant at the Tennessee Valley Authority’s Bull Run site in eastern Tennessee. The financing round was co-led by Breakthrough Energy Ventures and Clutterbuck Capital, with additional backing from Lowercarbon Capital, Siemens Energy Ventures, and SiteGround Capital. “The breadth and quality of investors in this funding round demonstrates growing support for our strategy to industrialize the commercial deployment of fusion energy,” Christofer Mowry, Type One Energy’s chief executive, said in a statement. “The Series B financing enables us to remain focused on advancing our stellarator technology and Project infinity design activities.”
The company has been working to establish its supply chain. In March, my colleague Katie Brigham broke news of a deal to start getting the material needed for its reactors.
New York City is notorious for the ways in which trash piles up on our sidewalks and evaporates into foul smelling mist during the hot summer days. But did you know it’s also piling up in the places we send it? The latest draft of the city’s once-in-a-decade management plan for solid waste indicates that the landfills receiving much of the five boroughs’ trash are filling up. Per Inside Climate News, the state is projected to run out of landfill capacity for the city’s garbage within 16 to 25 years.
The startup’s system builds on a vessel’s existing engine and makes it effectively fuel-agnostic.
The shipping industry has a dilemma. The European Union and other jurisdictions are increasingly requiring vessels to cut their carbon emissions, pushing shipowners toward lower-carbon fuels and away from traditional bunker fuel or diesel. But it’s still anybody’s guess which cleaner fuel — ammonia, methanol, or liquified natural gas — will prove most economical and efficient at scale. That leaves shipowners facing an uncomfortable choice: They must decide on a technology around which to build new engines and retrofit existing ones without knowing whether the fuel they bet on today will still be the best option a few years from now.
Blaze Energy says that its product will eliminate that choice. The startup, which announced a $6.5 million seed round on Tuesday — is making a compact fuel “reformer,” a device that uses a heated catalyst to split various alternative fuels into a hydrogen-rich gas. That gas can then be combined with the original fuel and conventional shipping fuel to power existing engines. With Blaze’s bolt-on retrofit, which the startup aims to make less than a tenth the size of the engine itself, shipping companies “can adjust their assets based on how the global energy landscape, regulation, as well as their company direction is changing,” the company’s CEO and co-founder, Rok Sitar, told me. For example, maybe LNG looks cheapest in the short term given its established supply chain, but ammonia could win out down the road.
So far, Blaze has conducted small scale demonstrations showing that its proprietary catalyst can reform ammonia, methanol, and LNG. The resulting hydrogen-rich mixture is extremely fast-burning, which helps the other fuels to burn more completely and efficiently than they otherwise would.
Blaze’s first product, however, focuses solely on ammonia reformation. The system works by diverting a portion of the liquid ammonia to flow over the startup’s electrically-heated catalyst, which breaks it down into hydrogen and nitrogen. The resulting gas goes directly into the engine, where the nitrogen passes through and exits via the exhaust, while the hydrogen helps the remaining ammonia burn more efficiently alongside conventional shipping fuel. No burners or complex gas separation systems required.
As Sitar explained, “a certain composition of ammonia and hydrogen burns just like diesel,” allowing Blaze to essentially “trick the engine” into operating like it’s burning just diesel or standard bunker fuel rather than a blend that includes hydrogen and ammonia. That means the startup can add its retrofit system onto an existing ship engine without modifying the engine itself. And if the reformer fails for any reason, the ship can simply revert to running on conventional fuel alone. Sitar said this fail-safe feature lowers the risk for shipowners considering Blaze’s tech.
The company’s strategic partners include vessel owner and operator Lomar Shipping, which expects to pilot the system at sea beginning sometime next year, and ship management consultancy Link Marine, which plans to offer it to tanker operators. Blaze is aiming for commercial rollout in 2028.
Retrofitting the existing global fleet represents “an enormous opportunity” for Blaze, Sitar told me. As he explained, there are roughly 100,000 vessels in the global commercial fleet, but the industry only builds about 1,500 new ships each year. And because shipping companies are unlikely to choose alternative-fuel engines for every new vessel they order, a company in Blaze’s position pretty much has to drum up demand among the ships already in the water. The startup aims to install its system when vessels enter “dry dock” for routine inspection and maintenance, which typically happens at least once every five years.
Blaze is also developing a version of its product for new-builds, however, working with engine manufacturers to integrate its fuel reformer hardware into both conventional ship engines as well as those already designed to run on ammonia. Even in ammonia-burning engines, Sitar said Blaze’s system will improve fuel efficiency thanks to the fast-burning hydrogen in its blend.
The startup has ambitious goals for its seed round, which Sitar says should carry it through the next 18 months. Those include proving out its ammonia reformer on land with unnamed “leading” engine manufacturers, validating its performance at sea with Lomar, securing the maritime certifications needed to launch its first commercial product, and expanding its operations and headcount in the U.S. and Norway.
Blaze will likely look to raise again around 2028, at which point the International Maritime Organization expects to have its Net-Zero Framework in place. This would establish legally binding requirements for the entire shipping industry to reduce its emissions intensity, with the goal of reaching net-zero by 2050. The agency expected to adopt the framework last October, but delayed a final vote to approve the measure after the Trump administration strong-armed nations into withdrawing their support. The framework will come up for a vote again this December.
While the ongoing ambiguity has become a headache for the industry as a whole, Sitar sees it as something of an advantage for Blaze, which, he said, “thrive[s] in uncertainty.” Around 2028, the startup aims to begin piloting its broader multi-fuel technology, which can reform not just ammonia, but also methanol and LNG, for use in diesel engines. Blaze also expects to begin delivering its first commercial ammonia retrofit systems at this time.
From there on, the company sees a path to adapting the technology across numerous other industries reliant on combustion engines, such as heavy equipment, mining, industrial heat, and diesel power generation for data centers. “By proving our system in maritime engines, we can very easily translate this into other hardware sectors,” he said. Shipping, in his view, is perhaps the most challenging but strategically useful beachhead market of all, from both a technical and regulatory perspective.
As he put it to me, “if you prove it on maritime shipping, you basically have a product that can be deployed anywhere else, because everything else is simpler and has less regulation.”