A nuclear power generating capacity of 200 GWe would reap widespread economic benefits throughout the EU, sustaining almost two million jobs and hundreds of billions in additional economic output, tax revenues and household income, according to a report commissioned by Brussels-based nuclear trade body Nucleareurope. Nucleareurope commissioned Deloitte to analyse the contribution of the nuclear power...
Just days after I was sworn into Congress in 2017, I found myself in the thick of negotiations over the Tax Cuts and Jobs Act. Republicans passed the bill within a month, and I returned to Utah eager to tell small-business owners and manufacturers about the historic tax relief they could expect. As I shared...
The Department of Energy’s (DOE’s) abrupt termination of 24 previously awarded projects—including four prominent power-related carbon capture projects— will rescind $3.7 billion in financial assistance from its Office of Clean Energy Demonstrations (OCED). In a terse press release on May 30, the DOE cited “a thorough and individualized financial review” in its justification for canceling the awards, asserting...
The Trump administration wants to privatize the popular Energy Star program, which sets government standards for energy-efficient appliances, Environmental Protection Agency administrator Lee Zeldin confirmed Tuesday. “This program is an example of one that can be run outside of government,” Zeldin told House members during a budget hearing. “I’ve actually had multiple entities reach out...
Read the article in Politico here.
Britain and the European Union will work towards linking their respective carbon markets as part of a wider reset in relations, they said on Monday, leading to a 6% rise in British carbon prices. Both the EU and UK charge power plants and other industrial entities for each metric ton of carbon dioxide they emit as part...
With the crafting of a reconciliation package in full swing, the fate of the Inflation Reduction Act (IRA) hangs in the balance. Much of the discussion in Washington has centered on what will happen to the energy tax credits. In a new paper, we outline how full expensing is a pro-growth, pro-environment policy that doesn’t pick winners and losers.
When the federal government introduced the electric vehicle tax credit in 2008, policymakers designed it as an infant industry credit.A new Institute for Energy Research report suggests that repealing IRA-specific EV subsidies could save taxpayers $300 billion over the next decade.
Economic gains from artificial intelligence will boost global output by around 0.5% a year between 2025 and 2030, outweighing the costs of rising carbon emissions by the data centres needed to run AI models, the International Monetary Fund said on Tuesday. An IMF report released at its annual spring meeting in Washington nonetheless noted that those output...
California will see almost one-fifth of its crude-processing capacity vanish in the next 12 months as two key refineries quit the business of turning oil into fuels. Valero Energy Corp. and Phillips 66 plan to idle a combined 284,000 barrels of daily refining capacity by this time next year, moves that will squeeze the perennially tight motor-fuels...
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