Trump's 'Day 1' Promise To Shut Clean Energy Projects Sends Stocks Tumbling

The Executive Order

President Trump signed an executive order on his first day in office that called for the review of all clean energy projects that had been approved by the Obama administration. The order also called for the cancellation of any projects that were not found to be in the best interests of the United States.

The Impact on the Stock Market

The executive order had an immediate impact on the stock market. Shares of renewable energy companies fell sharply, while shares of fossil fuel companies rose. The Dow Jones Industrial Average fell by more than 100 points in the first hour of trading after the order was signed.

The Reaction from Environmental Groups

Environmental groups were quick to condemn the executive order. They said that it would set back the progress that had been made in the fight against climate change. They also said that it would cost jobs and hurt the economy.

The Future of Clean Energy

It is unclear what the future holds for clean energy projects in the United States. The Trump administration has sent mixed signals about its commitment to renewable energy. Some members of the administration have said that they support clean energy, while others have said that they believe that fossil fuels are more reliable and affordable.

The executive order on clean energy projects is likely to face legal challenges. It is also possible that the order will be reversed by a future administration.

Conclusion

The Trump administration's executive order on clean energy projects has had a significant impact on the stock market and the environmental community. It is unclear what the future holds for clean energy projects in the United States.