Coal and Nuclear Industries Join Forces to Crush Wind Energy After Renewables Reach 16% of American Power
Old rivals have become new allies in America’s energy wars. Fossil fuel companies and nuclear startups are now pushing in the same direction, working to stall wind and solar projects that supply 16% of the grid and finding support from a White House that is tightening rules on renewable development. As this pressure builds, wind and solar’s projected 2050 share has fallen from 64% to 39% while early-stage nuclear firms with no revenue attract multibillion-dollar valuations.
- Fermi AmericaFRMI debuted at a $16B valuation with no revenue or customers, while OkloOKLO surged fivefold after Trump froze offshore projects.
- In contrast, Ørsted, EquinorEQNR, and US Wind are facing new barriers as nuclear startups gain accelerated federal support.
An ill wind blows: The Trump administration froze offshore wind leasing, cut $679M in green-energy funding, and used the Defense Production Act to support nuclear fuel. David Stevenson and his State Policy Network allies pushed these policies while working to restart coal plants and block wind projects through lawsuits the Justice Department no longer defends. BloombergNEF now expects fossil fuels to stay America’s dominant energy source through 2050 as renewables hit a regulatory wall.