October 28, 2026
The October 28th, banner headline in the Springfield Republican declared in all caps, “Looser Methane Rules.” The article goes on to say that the Trump administration is set to loosen the rules designed to force oil and gas companies to cut their emissions of methane, a gas considered a “super-pollutant” because it traps so much heat in the atmosphere. It is a weak attempt to lower gas prices, which have been inflated by his war of choice in Iran. The Governor of New Mexico says this will mean… “a hotter planet for all of us.”
This is just the latest attempt by Trump and his fellow climate change deniers to turn back the clock on environmental regulation. The Environmental Protection Agency has moved to repeal the 2009 scientific “Endangerment Finding”—which established that greenhouse gases threaten public health and safety—removing the legal basis for regulating carbon pollution from vehicles, power plants, and industry.
The administration targeted carbon and soot limits for power plants, a move that environmental groups say could potentially drive over $1 trillion in health costs and tens of thousands of premature deaths.
Trump has authorized the Department of the Interior to open millions of acres in Alaska and other public lands to oil and gas leasing, while halting offshore wind projects and freezing climate grants.
The U.S. formally withdrew from the Paris Climate Agreement, and eliminated budget lines targeting international and domestic clean energy subsidies. References to climate change and global warming have been systematically removed, altered, or taken offline across federal agency websites.
Michael Bloomberg, the self-made, tech billionaire and Red Sox fan from Medford, MA has been on the front lines of the climate war both through his business and his political contributions. The former Mayor of New York City contributed massive amounts of capital toward the 2026 congressional midterm elections, injecting over $80 million to aid Democratic candidates. Through Bloomberg Philanthropies, he has given away over $25.4 billion in support of climate change initiatives and other projects.
For those of us influenced by data and facts, it has become obvious that the earth is warming. Glaciers are melting, the seas are rising, and it will be 70 degrees tomorrow and a perfect day to play golf. Mark Gongloff, an opinion writer for Bloomberg L.P. covering climate change, writes in a recent piece that “An annoying, persistent myth of climate discourse is the idea that trying to stop the planet from becoming a charred hellscape is antithetical to the affordability of life’s basic needs.” Consider the following data points courtesy of Bloomberg Intelligence.
U.S. made EV’s lag their Chinese competitors on price, range, power and charging speed. The removal of incentives has accelerated these trends.
The rollback of EV incentives forced both Ford and GM to take substantial write-downs totaling $26B. Internationally, both companies face a widening competitive gap with Chinese car companies, who benefit from scale, government support, and lower cost structures.
Canceling U.S. solar support and the weakening of emission standards could cost consumers $650B, and lift gasoline prices by 14% by 2035.
Slower electrification could cost the U.S. economy a cumulative $2.3T through 2035.
Restricting renewable growth is estimated to cost $121B from 2027 to 2033.
Policy uncertainties have led to the cancellation of 20-25% of solar projects.
U.S. electricity prices have already risen more than 40% since the start of the pandemic.
Housing is another area of the economy that has been dramatically affected by climate change. The affordability of housing has been hurt by supply shortages, higher interest rates, and soaring insurance premiums. Premiums, which are up 46% since 2021, are a direct reflection of climate change and the increase in the number and intensity of natural disasters. In many communities, insurance premiums are now higher than property taxes. Insurance deductibles are going higher, and premiums are not tax deductible.
Tapping oil reserves, encouraging more drilling in environmentally sensitive areas, buying fuel from Russia, and eliminating environmental regulations are short-sighted, ill-advised, and destructive policies in the long run. We need an all-hands-on-deck approach. First, we need to end the disastrous war with Iran, and open the Strait of Hormuz. We need to get oil flowing again, and lower gas prices for consumers. Secondly, we need to reinstate the environmental regulations that have been rolled back. Lastly, we need to initiate an historic “moon shot” program to make us the world leader in renewable energy solutions, which would include solar power, wind power, ocean power, and electrification.