KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
President Trump’s newly signed One Big Beautiful Bill Act is sending shockwaves through America’s energy landscape—and cheaper electricity could be a thing of the past.
Instead of boosting renewables, the sweeping law pulls back green-energy incentives, prioritizes fossil fuel production, and leaves clean tech in limbo—just as AI-driven data centers are gearing up to consume massive amounts of power.
1. Energy Transition in Reverse?
The law rolls back tax credits introduced by the Biden-era Inflation Reduction Act (IRA), stalling momentum in solar, wind, and other renewable sectors. According to experts, this could slash new power-generation capacity by 340 gigawatts over the next decade—nearly one-third of what was expected.
That means less new energy, more pressure on aging infrastructure, and eventually, higher bills for you.
2. AI's Power Hunger = Higher Costs
AI isn’t just consuming headlines—it’s devouring electricity.
According to the IEA, just one large AI data center may consume as much energy as 2 million homes.
President Trump’s administration recently greenlit $90 billion in AI and energy infrastructure investments from tech giants like Google and Blackstone. But without clear energy-sourcing strategies, these projects could further strain supply and inflate costs.
“There’s no AI without energy,” the IEA bluntly states.
3. Fossil Fuels Take Center Stage (Again)
The new law prioritizes oil, natural gas, and even coal. On paper, domestic fossil fuels seem like a secure bet, but experts warn:
They’re exhaustible
Costlier to extract over time
And may push the U.S. back into reliance on energy imports
It’s a short-term win with long-term risks.
4. What It Means for You
Per Energy Innovation’s forecast, your household energy bill could rise by up to $640/year by 2035, especially if you live in the South or Midwest.
By 2026: Small hikes begin
By 2030: $40–$300 more per year
By 2035: Up to $640 in some states
Meanwhile, renewables stall, and AI infrastructure scales rapidly—leaving consumers to foot the bill.
The Bottom Line
America’s clean-energy ambitions just hit a major roadblock.
Without major reforms in permitting, large-load tariffs, or clean-tech investment, power won’t get cheaper anytime soon.
As AI accelerates and fossil fuels dominate again, energy costs could become a hidden tax on innovation—and your wallet.
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