• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Exclusive-White House, top Democrats reach deal in budget bill on carbon capture credit -sources

October 1, 2021 by David Barret Leave a Comment

October 1, 2021

By Jarrett Renshaw and Timothy Gardner

WASHINGTON (Reuters) – The White House and top Democratic lawmakers have agreed to boost a tax credit for industrial carbon capture projects in a deal that could help solidify support for the budget reconciliation bill at the heart of President Joe Biden’s economic agenda, two sources with knowledge of the matter said.

The agreement worked out by White House officials and lawmakers, including Senators Ron Wyden and Sheldon Whitehouse, and some of their counterparts in the House, would raise the so-called 45-Q tax credit for carbon capture projects in heavy industry, such as cement and steel plants, to $85 per metric ton. It would also waive requirements that plants must capture a certain percentage of carbon to be eligible.

The White House and the senators did not immediately respond to requests for comment.

In carbon capture projects, industrial plants add pipes and other heavy equipment to siphon off carbon dioxide emissions for permanent storage underground before they have the chance reach the atmosphere and make climate change worse.

But carbon capture is expensive to build and certify and many projects, such as Petra Nova in Texas, have stopped operations in recent years.

Current 45-Q tax credits allow polluting plants to claim $50 per ton of carbon dioxide they sequester and $35 a ton for projects where carbon is captured and then used to push more crude oil from aging oilfields.

The agreement does not yet cover the power sector, which includes coal and natural gas plants, a huge source of carbon dioxide emissions. Senator Joe Manchin, a moderate from large coal producing state West Virginia, has pushed Senate Majority Leader Chuck Schumer to allow coal and natural gas burning power plants to get incentives for carbon capture in the reconciliation bill.

Discussions are progressing on boosting the carbon capture credit for power plants, the sources said.

(Reporting by Jarrett Renshaw and Timothy Gardner; Editing by Chizu Nomiyama)

Source Link Exclusive-White House, top Democrats reach deal in budget bill on carbon capture credit -sources

David Barret
David Barret

Related posts:

  1. Apple M1X MacBook Pro might drop as early as October
  2. White House vows to keep gasoline flowing as U.S. energy firms work to shake off Ida’s toll
  3. Monte dei Paschi prepares to close 50 branches – letter to unions
  4. Billions blown as Macau casino investors fold amid gambling review

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Are These 2 African Gray Parrots The Only Non-Human Animals To Ever Ask A Question?
  • How Forensic Scientists Are Reconstructing Faces Using DNA Found At Crime Scenes
  • New Non-Invasive Option For Treating Non-Melanoma Skin Cancer In A Single Session
  • Evolution Running Backwards? That’s What This Unlikely Organism Appears To Be Doing
  • How Did The Starfish Become A Star? 500-Million-Year-Old Fossil Solves Evolutionary Mystery
  • JWST Has Discovered Its First Exoplanet – And It’s A Baby Saturn-Sized One!
  • Rare “Moonwalking” Killer Whale Behavior Hides Much More Gory Truth
  • Dead Pulsars Are Emitting Radio Waves. Massive “Mountains” Measuring 1 Centimeter Tall Could Be To Blame
  • 40,000-Year-Old Mammoth Ivory Boomerang And Human Finger Hint At Mysterious Prehistoric Rituals
  • 99-Million-Year-Old Amber Fossils Mark The Oldest Known Example Of “Zombie Fungus” Infection
  • Breakthrough Qubit Control Near Absolute Zero Is Scalability Game-Changer For Quantum Computing
  • “On A Timescale Of Millions Of Years”: Scientists Detect Pulsing “Heartbeat” Under Africa
  • Skin Moles: What Are They And When Should You Get Them Checked?
  • 20 New Bat Viruses – Some “Cousins” Of Deadly Hendra And Nipah – Spark Fears Of Human Disease
  • “Nobody Expected This”: Earth’s Rotation Will Speed Up In July And August, Bucking The Downward Trend
  • What Is The “Heat Dome” Causing Baking Temperatures In The Eastern US This June?
  • Over 500 Bird Species At Risk In Next Century As We Face “Unprecedented” Extinction Crisis
  • World First: Mice With 2 Dads Father Their Own Offspring
  • Largest Ever Space-Based Gravitational Wave Observatory Begins Construction
  • Plastic Trash? This Bacterium Can Turn It Into Paracetamol – AKA Tylenol®
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version