Trump Administration Announces Major EPA Budget Cuts and Policy Shifts

The White House clarifies plans to cut 65% of the EPA's budget, not its workforce, while pursuing aggressive energy and environmental policy changes.

The Trump administration clarified that the Environmental Protection Agency (EPA) will cut 65% of its budget rather than its workforce, though additional layoffs are still expected.
EPA Administrator Lee Zeldin aims to recover $20 billion in grants from the Greenhouse Gas Reduction Fund, claiming improper distribution under the previous administration, though no fraud has been formally identified.
Trump announced plans to terminate Chevron's oil production license in Venezuela, citing unmet conditions and electoral concerns, with the termination set to take effect on March 1.
Congress voted to repeal the Biden-era methane emissions fee on oil and gas facilities, with Republicans framing it as a move to protect domestic energy production.
BP's CEO announced a strategic pivot back to fossil fuels, aiming to double the company's market capitalization to $200 billion within five years.