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A major flaw in the Inflation Reduction Act (IRA) is that there is effectively no cap on the tax subsidies that President Biden provides to his favorite “green” technologies. Despite more than four decades of subsidies for wind and solar technologies, the IRA continues to subsidize these technologies as if they were still emerging, which they are […]
First Solar, an Arizona-based solar-panel manufacturer, expects to receive as much as $710 million this year—nearly 90 percent of its expected operating profit—from federal subsidies meant to encourage domestic renewable energy production. Those incentives could be worth more than $10 billion for the company over the next decade. The incentives were approved by a Democratic Congress and President Biden last year […]
A recent article in the Wall Street Journal, “The Energy Industry Prepares for Upheaval at the Gas Station,” points toward a big problem ahead regarding electric vehicle (EV) recharging. “Electric vehicles are a small but growing share of cars on the road,” Carol Ryan begins her article. “Energy companies already need to prepare for how […]
The Federal government has already spent well over $100 billion on renewable credits for electricity production since their enactment three decades ago, and the “Inflation Reduction Act” will cost taxpayers another $98 billion. The proposed bill is full of incentives for renewable energy technologies, chief among an extension of wind and solar tax credits significantly increasing […]
President Biden and his administration do not want to mine American-owned minerals on public lands. Rather, Biden wants to use American taxpayer funds. The Department of Defense asked Congress to let it fund facilities in these countries that process strategic minerals used to make electric vehicles and weapons. Existing law does not allow Defense Production Act […]
The White House unveiled a framework to provide $5 billion to states to expand their electric vehicle charging networks toward President Biden’s promise to build 500,000 charging stations by the end of the decade to help achieve his goal of having half of all new vehicle sales by 2030 be electric. The Department of Transportation (DOT) has […]
The House Committee on Agriculture hosted a hearing on Wednesday, January 12, on the needed infrastructure and possible impediments to electric vehicle adoption in rural America. At issue is what policies would incentivize rural electric vehicle penetration and at what cost, and, whether subsidizing electric vehicle use in rural America would make a significant difference […]
On November 19, the House of Representatives passed a $2 trillion budget bill with a long list of increases in federal royalties and fees, plus new fees, new taxes, and barriers to leasing in the Arctic National Wildlife Refuge, the Pacific, Atlantic, and eastern Gulf of Mexico. It passed on a party-line vote of 220-213 and was […]
Congratulations are in order on the passage of the so-called bipartisan infrastructure bill. Not to President Joe Biden, whose own priorities barely feature in the legislation, but to another Joe, the one from West Virginia (though we would be remiss if we didn’t also congratulate Senator Krysten Sinema, the Arizona Democrat who worked hard to […]
This past week House Democrats passed their budget reconciliation bills in the various Committees. So far these bills are 100 percent partisan as no Republicans in any Committee has voted for them. Next, the House Budget Committee will take the various provisions and combine them into a reconciliation bill to send to the Senate. This […]