inflation reduction act – Oil & Gas 360

Republicans seek to protect green tax credits in budget bill

March 11, 2025

(Investing) – WASHINGTON -A group of Republican lawmakers urged the House committee drafting President Donald Trump’s proposed tax cuts in the upcoming budget reconciliation bill to preserve key clean energy tax credits enacted under the Biden administration to protect private sector investments in their districts, according to a letter circulated on Monday. Led by New York Republican Congressman Andrew Garbarino, the

U.S. clean energy firms lobby lawmakers to keep tax credits

February 5, 2025

(Oil Price) – U.S. clean energy groups and hundreds of their member companies are beginning on Wednesday a series of meetings with members of Congress to lobby the Trump Administration to keep the tax credits from the Biden-era climate and infrastructure laws. President Donald Trump reversed most of Biden’s energy and climate policies on Day One, signing a series of executive orders to

Biden administration races to approve green funding ahead of Trump presidency

December 19, 2024

(Oil Price) – Following the recent election of Donald Trump as the next president of the U.S., the Biden administration is racing to approve huge quantities of green funding to ensure the U.S. gets the best chance possible at a green transition. The Biden government’s far-reaching climate policy, the Inflation Reduction Act (IRA), is under threat as President-elect Trump has repeatedly

FREE MONEY WORKS! Majors, independents diverge on Inflation Reduction Act

October 21, 2024

(Oil & Gas 360) – After two years of industry opposition to the $740 billion Inflation Reduction Act (IRA), touted by its proponents as the single largest effort by the U.S. government to promulgate a federal-level climate change investments and tax credit policy, several of the country’s largest oil companies are finding elements of the law so attractive that they are

Trump’s VP choice could signal rollback of climate protections

July 16, 2024

Oil Price Environmental campaigners have slammed Donald Trump’s pick for running mate, Ohio Republican Senator J.D. Vance, saying that he is a climate change denier and a “Big Oil sell-out” who will strongly support continued fossil fuel production. Trump announced on Monday that he had picked Vance, 39, once a critic of the former president but now a staunch supporter, to

Biden’s Inflation Reduction Act makes green hydrogen profitable at scale, Goldman Sachs says

November 30, 2022

CNBC The United States’ Inflation Reduction Act represents a “turning point” when it comes to the economics of technologies such as renewables and hydrogen, according to Goldman Sachs. During an interview with CNBC’s Steve Sedgwick on Tuesday, Michele DellaVigna — who is Goldman’s commodity equity business unit leader for the EMEA region — touched upon a number of issues related

API: Inflation Reduction Act falls short of addressing long-term energy needs

August 15, 2022

World Oil American Petroleum Institute (API) President and CEO Mike Sommers issued the following statement today on House passage of the Inflation Reduction Act: “While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment

Manchin and Schumer’s ‘Inflation Reduction Act’ a mixed bag for energy industry

August 1, 2022

World Oil Energy Workforce continues to digest the potential reconciliation deal — the “Inflation Reduction Act” — in the Senate. Initial thoughts are mixed; some provisions may be beneficial to our sector while others will be negative. Source: World Oil The below summary is based on an initial read, and we can expect additional details to be forthcoming. Provisions That

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