Treasury Nominee Scott Bessent Rejects 'Clean Energy Race' Claim in Senate Hearing

Bessent argues that China's energy strategy focuses on coal and nuclear power, not clean energy, and criticizes the Inflation Reduction Act's spending levels.

Scott Bessent, President-elect Donald Trump's Treasury Secretary nominee, stated during his confirmation hearing that there is no 'clean energy race' with China but rather a broader energy race.
Bessent highlighted China's plans to build 100 coal plants and 10 nuclear plants this year, emphasizing that these are not clean energy initiatives like solar or wind power.
He expressed support for expanding nuclear energy in the U.S. while criticizing the Inflation Reduction Act (IRA) for what he described as excessive and uncontrolled spending as scored by the Congressional Budget Office.
Democratic Senator Ron Wyden pressed Bessent on the Trump administration's efforts to roll back parts of the IRA, which Wyden called a historic clean energy transformation, but Bessent remained firm in his critique of its economic and fiscal impacts.
Bessent also underscored the need for fair trade policies with China, arguing that China's economic strategy unfairly burdens American workers and exploits global markets.