
Republicans once said the free market should decide how the US uses energy. No more.
'The need for power is scaling so fast that if President Trump hadn't been elected president, I think we would already be in trouble,' said Carla Sands, vice chair of the center for energy and environment at the Trump-aligned think tank America First Policy Institute. 'The American regulatory environment had become anti-production, anti-energy, anti-business, and this is changing under President Trump's brilliant leadership.'
An energy and AI summit that Sen. David McCormick (R-Pa.) convened last week in Pittsburgh — which included an appearance by Trump — crystallized the emergence of the president's brand of industrial policy. The administration touted $90 billion in announcements for new AI investments from U.S. tech companies, investment houses and the 'hyperscalers' that build the data centers such as Google, CoreWeave, Blackstone and Brookfield Asset Management.
'The AI revolution will change the way the world works, and we cannot lose. The Trump administration will not let us lose,' Commerce Secretary Howard Lutnick said during the event. 'We need to do clean, beautiful coal. We need to do natural gas. We need to embrace nuclear. We need to embrace it all because we have the power to do it — and if we don't do it, we're fools.'
But wind, solar and battery storage projects have been the United States' leading source of new power in recent years, while backlogs for new natural gas turbines, yearslong timelines to build nuclear power plants and the remote chances of greenlighting new coal-fired power plants have stunted growth of those sources. Solar, wind and batteries accounted for 93 percent of all new power added to the grid last year, according to the U.S. Energy Information Administration.
People who identify themselves as traditional small government conservatives expressed wariness of some of Trump's moves. They say the party is using the same heavy-handed tactics to reward favorites for which they criticized Democrats. Republicans have even dialed it up a notch, they said.
Republicans have cast aside the all-of-the-above mindset of the pre-Trump era, said Drew Bond, CEO of conservative climate organization C3 Solutions and an Energy Department adviser in the George W. Bush administration. Now, they preach a 'best of the above' mentality that invites subjective choice over the ebbs and flows of a free market, he said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a few seconds ago
- Yahoo
Nebraska Republican congressman booed over Trump's 'big, beautiful bill'
WASHINGTON (Reuters) -Republican U.S. Representative Mike Flood endured a contentious town hall meeting in Nebraska on Monday, as opponents of President Donald Trump's sweeping tax- and spending-cut bill booed and heckled him for over an hour. Flood fielded questions about Republican funding cuts to the Medicaid healthcare program for lower-income Americans, food assistance and funding for Trump's controversial crackdown on undocumented immigrants from his Lincoln audience. He argued that it was important to deny public health coverage to immigrants living in the U.S. illegally and to able-bodied adults who refuse work and then drew cheers backing the release of government files on disgraced financier and sex offender Jeffrey Epstein. With Congress on its summer break, Republicans including Flood are trying to promote Trump's landmark legislation, nicknamed the "big, beautiful bill," which extended the president's 2017 tax cuts and ramped up spending for border security and the military. It will also add $3.4 trillion to the $36.2 trillion federal debt and leave about 10 million people without health coverage. "There's a lot of information out there that's wrong. We protected Medicaid. We cut $2 trillion out of the future debt. We worked to get results. And this bill builds for growth," he said to a chorus of boos. At times, angry audience members chanted: "Vote him out!" "How much does it cost for fascism? How much do the taxpayers have to pay for a fascist country?" asked one woman, who was irate about Trump's immigration crackdown and the use of disaster relief money to pay for an immigration detention center in South Florida nicknamed "Alligator Alcatraz." Flood's district is heavily Republican and not among the roughly three-dozen House seats expected to be competitive in next year's midterm elections, when Republicans will be defending their narrow House of Representatives majority, currently 219-212 with four vacancies. At his town hall, Flood, 57, responded to critics by saying that voters backed Trump's policies in the 2024 election: "Americans voted for a border that is secure. And I support the president enforcing our immigration laws." He later told another questioner who criticized him for not speaking out against Trump: "When I see something that I don't agree with, I don't run to the TV station as my first stop. I try to stop it before it gets worse." After the meeting, Flood told reporters: "I like to think that I was able to answer their questions. They may not agree with my answer. But the questions are always good and that makes me a better member of Congress."
Yahoo
a few seconds ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq waver as Wall Street eyes earnings, trade tensions
US stocks pushed higher on Tuesday as Wall Street regained its balance after a tumultuous week and took in the latest wave of corporate earnings. The benchmark S&P 500 (^GSPC) inched up 0.2%, while the blue-chip Dow Jones Industrial Average (^DJI) rose 0.3%. The Nasdaq Composite (^IXIC) was down bout 0.1%. Palantir (PLTR) stock jumped 9% in early trading after the company's earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time. On Monday, stocks sharply rebounded after tanking on Friday in the aftermath of a number of market-shaking events, including a weak jobs report, fresh tariffs, new signs of rising prices, and President Trump's firing of the commissioner of the Bureau of Labor Statistics. Meanwhile, Trump continued to amp up pressure on trade Monday, threatening to hike tariffs on India. Separately, in a Tuesday morning interview with CNBC Trump said pharmaceutical imports could see tariffs of up to 250%. Trump also ruled out Treasury Secretary Scott Bessent as a potential incoming Fed chair, but noted that Jerome Powell's successor could be named "soon." Read more: The latest on Trump's tariffs Wall Street is now focused on the continuation of earnings season. On Tuesday, AMD (AMD) and Rivian (RIVN) are set to report their results. McDonald's (MCD) and Disney (DIS) earnings land Wednesday. However, another trade blow looms later in the week, with Trump's latest iteration of global tariffs set to take effect. PMI data points to "encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. PMI data points to "encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Activity in the services continued to expand during the month of July according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.1, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, July registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Yahoo Finance's Jennifer Schonberger and Myles Udland report: President Trump said Tuesday morning that the pool of potential nominees to succeed Federal Reserve Chair Jerome Powell is down to four people, and that Treasury Secretary Scott Bessent will not be nominated for the role. "The two Kevins are doing well, and I have two other people that are doing well," Trump said in an interview with CNBC on Tuesday. The "two Kevins" are in reference to former Fed governor Kevin Warsh and Kevin Hassett, director of the National Economic Council. Asked about Fed Governor Chris Waller and Secretary Bessent, Trump didn't deny that Waller was among the four possible replacements for Powell, but did say that Bessent does not want the job. "I love Scott, but he wants to stay where he is," Trump said. Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here.
Yahoo
a few seconds ago
- Yahoo
Fox News' Kat Timpf wades into Sydney Sweeney controversy in return to Gutfeld! after planned absence
Fox News contributor Kat Timpf has returned to the late-night political comedy show, Gutfeld!, following a weeks-long break as she underwent surgery. Timpf, 36, first revealed during a July episode of Gutfeld! that she would be taking time away from the show for the latest surgery following her shocking February breast cancer diagnosis received just hours before giving birth to her first child. The comedian made her return to the network Monday, appearing first on Martha MacCallum's show before assuming her chair on Gutfeld!, where she and other contributors discussed their opinions on Sydney Sweeney's American Eagle ad campaign. For the campaign, which includes the limited launch of the wide-legged 'The Sydney Jean,' the actor is featured in multiple photos and videos, including one where she cleans off a poster of herself wearing a denim jacket and jeans and bearing a tagline that appeared to be a pun about denim. While the phrase initially said, 'Sydney Sweeney Has Great Genes,' the last word was then crossed out and replaced with 'Jeans.' The same tagline appears in nearly every ad for the campaign. Many people were quick to negatively respond to the tagline because the phrases 'good genes' and 'great genes' have historically been used in the language of eugenicists, who believe the human race can be improved genetically by selective breeding. Following the release of the ad, American Eagle released a statement on Instagram to address the backlash. ''Sydney Sweeney Has Great Jeans' is and always was about the jeans,' the retailer wrote. 'Her jeans. Her story.' Giving her opinion on the backlash, Timpf said she didn't understand why the ad was continuing to be covered by the media, thinking people were overreacting. 'I have such a hard time believing that this controversy is real,' she said. 'And if you really are upset by this, then I genuinely feel sadness for you.' The contributor continued, explaining how the media was covering the controversy using headlines such as 'Everything We Know,' which is 'usually when we're talking about some kind of horrific contagion.' Timpf also touched on the recent discovery that Sweeney registered as a Republican in Florida several months before President Donald Trump won his second term. 'Who cares?' she said. 'Lots of people are Republicans, and it shouldn't be that groundbreaking to find out that somebody, who's wealthy, especially, is a Republican.' Timpf's Gutfeld! return comes after she shared an update regarding her breast cancer treatment last month. 'When I came back, I said I still had some surgeries to go,' she said, referencing her return from maternity leave. 'And my first one's next week. So I'm going to be out for a couple of weeks. Even with the best-case scenario of breast cancer, [it] can involve quite a road to feeling whole again. So this is the first step in that.' She explained why she was discussing her upcoming surgery on the show, adding: 'Just so the internet can't come up with theories about where I am. That's where I am. 'And just thank you everyone for all your support, vibes, and prayers, or however you show that. I really appreciate it,' Timpf concluded. 'And I can't wait to come back soon.'