by Arianna Skibell (Politico's Power Switch) ... An upswell of state-led legislation aimed at boosting and regulating the fuel source could help shape the trajectory of President Joe Biden’s climate plans, write David Iaconangelo, Heather Richards and Zach Bright. ... Few green hydrogen
Treasury Department
Back TO HOMEEnergy Department Unveils Plan Using Hydrogen Energy to Cut US Emissions by 10 Percent
by Rachel Frazin (The Hill) The Energy Department on Monday unveiled a roadmap it says will, using hydrogen energy, enable the U.S. to reduce its emissions by 10 percent in 2050, compared to 2005 levels. The strategy document calls for specifically targeting hydrogen use
June 06, 2023 Read Full Article
Opinion: Get Tax Credits Right to Make Clean Hydrogen a Boon not a Boondoggle
by Gernot Wagner and Danny Cullenward (Washington Post) ... Enter Section 45V of the tax code. Under this, clean hydrogen producers that meet low-emissions standards will be eligible for federal incentives that cover up to about 60 percent of the average total
April 28, 2023 Read Full Article
US Ethanol Industry Expands Focus to Lower-Carbon Aviation Sector
by Stephanie Kelly (Reuters) The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the Inflation Reduction Act, arguing such provisions are crucial to meeting U.S. climate goals. The campaign
April 27, 2023 Read Full Article
Rising to the Challenge for SAF
by Paul Winters (SAF Magazine/Clean Fuels Alliance America) The Sustainable Aviation Fuel Grand Challenge is a coordinated effort among multiple federal agencies to scale up production of SAF by midcentury. Renewable fuels like SAF are critical to reducing greenhouse gas
April 21, 2023 Read Full Article
Trucking Industry Worries US EPA Put 'Cart before the Horse' with Emissions Proposal
by Jasmin Melvin (S&P Global) EPA, California rules look to phase out diesel trucks; Will require more trucks to haul same amount of freight; Range, charging and power needs still present challenges -- While onboard with ambitions to transition the US car fleet
April 20, 2023 Read Full Article
The Fight to Define ‘Green Hydrogen’ Could Determine America’s Emissions Future
by Emily Pontecorvo (Grist) ... A decision with profound implications for that goal now lies with the Treasury Department, which must settle a debate over the best way of crafting a tax credit designed to advance the production of clean hydrogen.
April 06, 2023 Read Full Article
Battle Brews over Climate Law Credits for Aviation Biofuels
by Brian Dabbs (E&E News Energywire) The Inflation Reduction Act is setting up a fight over the climate footprint of biofuels for aviation, with significant implications for the nation’s emissions trajectory, the U.S. transportation sector and rural communities. In coming weeks, the
April 05, 2023 Read Full Article
RFA to Treasury: Success of SAF Tax Credit Depends on Fair, Science-Based Lifecycle Analysis
(Renewable Fuels Association) The use of science-based, consistent and transparent lifecycle analysis methods will be crucially important in implementing the sustainable aviation fuel (SAF) tax credit under the Inflation Reduction Act, the Renewable Fuels Association said in comments submitted Friday to
February 21, 2023 Read Full Article
Energy Giants, Bill Gates Back Effort to Map ‘Clean’ Hydrogen
(E&E News Energy Wire) Excerpt from E&E News Energy Wire: Many of the world’s largest energy companies and a Bill Gates-led group are joining an industry-led initiative to measure and map the emissions footprint of “clean” hydrogen, underscoring the financial stakes linked
January 10, 2023 Read Full Article
Growth Energy to Fuel Beyond in 2023
by Emily Skor (Growth Energy) ... By any measure, 2022 was a banner year for biofuel advocates in Washington, D.C. We secured new funding for blending infrastructure, critical tax incentives for clean energy, a summer waiver for E15 sales, and
January 03, 2023 Read Full Article
Biden's Dilemma: How Do You Define 'Green' Hydrogen?
by David Iaconangelo (Politico Pro) The Treasury Department is expected to release a framework that could determine whether renewable hydrogen is a successful climate tool or a high-emitting fuel. -- The Treasury Department is weighing new requirements for “green” hydrogen producers,
December 23, 2022 Read Full Article
Treasury, IRS Issue Guidance on New Sustainable Aviation Fuel Credit
(U.S. Internal Revenue Service) The Treasury Department and Internal Revenue Service today issued a notice regarding the Sustainable Aviation Fuel (SAF) credit. This is a new credit created by the Inflation Reduction Act of 2022. It applies to a qualified fuel
December 20, 2022 Read Full Article
NBAA, Coalition Urge IRS to Resolve Questions about SAF Tax Credit Programs
(National Business Aviation Association) NBAA recently joined with a coalition of dozens of aviation stakeholders in submitting comments to the IRS on implementation of the upcoming sustainable aviation fuel blenders tax credit (SAF BTC) and clean fuel production credit (CFPC). Effective Jan.
December 08, 2022 Read Full Article
Ethanol Blog: Biofuels Groups Ask IRS to Get Carbon Scoring Right in Implementing Clean Fuel Tax Credit
by Todd Neeley (DTN Progressive Farmer) A new clean fuel production tax credit created by the Inflation Reduction Act could pave the way for significant growth in biofuels including ethanol, sustainable aviation fuel and biodiesel, if the IRS takes steps to
December 07, 2022 Read Full Article
RFA Provides Input on IRA’s Clean Fuel Production and CCUS Credits, Biofuels Infrastructure Grants
(Renewable Fuels Association) As federal agencies continue to work on implementation of the Inflation Reduction Act, the Renewable Fuels Association on Saturday filed two sets of comments to the Internal Revenue Service, related to credits for carbon sequestration and clean fuel
December 06, 2022 Read Full Article
Clean Fuels Files Comments on New SAF, Biodiesel and Renewable Diesel Tax Incentives
(Clean Fuels Alliance America) Clean Fuels urges Treasury to use up-to-date, science-based model for carbon scoring -- On Friday (December 2, 2022), Clean Fuels Alliance America submitted a written response to the U.S. Treasury’s request for comments (Notice 2022-58) on Credits for
December 05, 2022 Read Full Article
RFA Leading the Charge on IRA Implementation
(Renewable Fuels Association) Testimony, Comments Provided to Treasury, IRS, USDA -- In separate comments and testimony to the U.S. Department of Treasury, Internal Revenue Service and the U.S. Department of Agriculture, the Renewable Fuels Association laid out the ethanol industry’s priorities
November 09, 2022 Read Full Article
Growth Energy Sends Letter to Treasury on Action to Slash Aviation Emissions
(Growth Energy) Today, Growth Energy sent a letter to the U.S. Department of the Treasury on implementation of Inflation Reduction Act of 2022 (IRA) tax credits for sustainable aviation fuel (SAF). In her letter, Growth Energy CEO Emily Skor calls on regulators to
November 04, 2022 Read Full Article
Yellen: Treasury Exploring Development of Carbon Markets
by Sam Sutton (Politico Pro) Treasury Secretary Janet Yellen on Monday said she was exploring how the administration could develop standards for voluntary carbon markets as part of broader efforts to address climate change. "We’re looking into what we might do to
October 24, 2022 Read Full Article
Climate Bill Rekindles Debate over Biodiesel Tax Breaks
by Marc Heller (E&E News) Thirteen years ago, Congress decided a tax credit for companies that blend biodiesel shouldn’t go to refineries that put just a drop of the alternative fuel’s main ingredient — crops, animal fat and other organic material
December 08, 2021 Read Full Article
Treasury Moves against Fossil Fuels
by Matthew Choi (Politico's Morning Energy) The Treasury Department warned multilateral development banks that the U.S. won’t support most future fossil fuel projects unless low-carbon alternatives aren’t feasible. The department issued its opinion in a Friday guidance, which follows Treasury
August 17, 2021 Read Full Article
Biofuels Industry Wary of Tech-Neutral Tax Credit Absent CI Model Changes
by Patrick Newkumet (OPIS) Alternative low-carbon fuel producers would receive tax credits for reaching net-zero emissions under a U.S. Senate bill introduced last month, but biofuel industry stakeholders are concerned they will find it difficult to reach that target by 2030
May 21, 2021 Read Full Article
Biden Seeks $2.5T in Corporate Tax Hikes to Fully Pay for Infrastructure
by Naomi Jagoda (The Hill) ... The White House is also proposing to eliminate tax preferences for fossil fuel companies and expand tax incentives for clean-energy production. Treasury said in the report that its estimates indicate that eliminating subsidies for
April 07, 2021 Read Full Article
Will Biden's $2.3 Trillion Infrastructure Plan Usher in Era of the EV?
by Sebastian Blanco (Car and Driver) While not targeting gas-powered cars for extinction, the plan intends to bring electric cars fully into the mainstream by spending $174 billion to promote EVs and build charging stations. -- ... There are a lot
April 05, 2021 Read Full Article
Biden Releases $2 Trillion Jobs and Infrastructure Plan
by Erin Voegele (Ethanol Producer Magazine) President Biden on March 31 released a $2 trillion infrastructure and jobs plan, officially titled the American Jobs Plan. Biofuel/bioproducts and carbon capture and storage (CSS) are each briefly addressed in the plan. One provision of
April 01, 2021 Read Full Article
Biden Administration Wants the Financial Sector to Face up to Climate Risk
by Steven Mufson and Juliet Eilperin (Washington Post) The Commodity Futures Trading Commission aims to create a new Climate Risk Unit, joining initiatives at Treasury, the Securities and Exchange Commission, and the Federal Reserve -- A growing number of federal
March 18, 2021 Read Full Article
SEC Unveils ESG Task Force
by Matthew Choi and Kelsey Tamborrino (Politico's Morning Energy) The commission is setting up a climate and ESG task force in its enforcement division as the financial industry faces growing pressure to be more proactive on ESG disclosures, particularly regarding
March 05, 2021 Read Full Article
Greens Look to Yellen on Climate
by Kelsey Tamborrino (Politico's Morning Energy) --President-elect Joe Biden is expected to officially tap Janet Yellen for Treasury secretary, a job with significant climate implications. --And former Secretary of State John Kerry will serve as Biden's special presidential envoy for
November 24, 2020 Read Full Article
Banking on Climate
by Kelsey Tamborrino (Politico's Morning Energy) U.N. special envoy for climate change Mark Carney will tell the Bloomberg New Economy Forum today that central banks can take a more proactive role in defending the financial system from climate change shocks while
November 18, 2020 Read Full Article
As Flood Plains Expand, Sellers Continue to Hide Risk from Residents
by Amy Lupica (Our Daily Planet) Across the nation, 15 million residences are at high risk of flooding within the next 30 years, and most homeowners and renters aren’t aware of this risk. Only about half of states require any kind of disclosure when it comes
October 20, 2020 Read Full Article
Big Oil’s $100 Billion Bender: How the U.S. Government Provided a Safety Net for the Flagging Fossil Fuel Industry
(Bailout Watch) The U.S. government’s efforts to stabilize the financial system at the start of the global pandemic last spring have propped up the fossil fuel industry, which entered the year with heavy debt loads and was slammed by the
October 02, 2020 Read Full Article
BD Zones and BDO Zones: Weaponizing Biomass to Support a Bio-Fueled Economic Recovery
by Jordan Solomon (Ecostrat Inc./Biofuels Digest) The US has over a billion tons of biomass which can be used as a key lever to drive economic recovery. USDA estimates that 3.4 million jobs and nearly $660 billion of economic benefits
May 21, 2020 Read Full Article
Big Oil Overreaches on COVID-19 Bailout
by Jim Talent (The Gazette) ... Oil companies have requested special access to a $600 billion lending facility at the Federal Reserve, and the administration seems keen to deliver. The president just announced that the Secretary of Energy and Secretary
May 07, 2020 Read Full Article
Trump Poised to Offer Bridge Loans to Ailing Oil Companies
by Saleha Mohsin, Ari Natter and Jennifer A. Dlouhy (Bloomberg/RigZone) The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry possibly in exchange for a financial stake, according to two people familiar
April 30, 2020 Read Full Article
QUOTE OF THE WEEK -- Bethany McLean
"It's worth remembering that Wall Street can make money even when the businesses that they are funding don't make money," explained Saudi America author Bethany McLean in this Strand Book Store discussion talking about financing of the shale oil and
April 20, 2020 Read Full Article
An Answer to “Hard to Find” Equity – Opportunity Zone Funds
by Mark Riedy and Eddie Wang (Kilpatrick Townsend & Stockton LLP/Biofuels Digest) The recently-established Opportunity Zone Program offers developers, including start-up technology companies attempting to develop and commercialize new technologies in the energy, chemical, and infrastructure industries, an exciting, new opportunity to
July 31, 2019 Read Full Article
From Greenspan to Yellen, Economic Brain Trust Backs Carbon Tax
by Jennifer A Dlouhy (Bloomberg) Strategy cheered by economists who served last six presidents; Endorsement could give boost to carbon tax-and-dividend plan -- An all-star lineup of economists, from Alan Greenspan to Paul Volcker, is endorsing a plan to combat climate change by slapping
January 18, 2019 Read Full Article
A Summary of Federal Programs: The Digest’s 2018 Multi-Slide Guide to Alternative Fuel and Advanced Vehicle Technology Incentives
by Jim Lane (Biofuels Digest) A wide array of federal incentives supports the development and deployment of alternatives to conventional fuels and engines in transportation. These incentives include tax deductions and credits for vehicle purchases and the installation of refueling systems,