 Energy & Environment |
Energy & Environment |
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Ethanol industry gets boost with alternative aviation fuel credits |
The Biden administration handed a win to the ethanol industry on Friday with new guidelines outlining qualifications for a tax credit for alternative aviation fuels. |
The Treasury Department unveiled its guidelines for the "Sustainable Aviation Fuels" tax credit, which bolsters non-fossil fuels such as biofuels that are used to power planes. Under the tax credit, fuels that reduce greenhouse gas emissions by at least 50 percent are eligible for a credit of $1.25 per gallon. That 50 percent reduction will be calculated using a federal model known as the GREET model, which the ethanol industry has expressed support for over other models. The ethanol industry has raised concerns about other models, saying, for example, that under a European model fewer fuels would qualify. Agriculture Secretary Tom Vilsack said the decision to use this model "would provide a pathway for corn-based ethanol, soy-based diesels … [and] bio-based fuels to be able to qualify for significant tax credits." |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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The Biden administration’s plans for increased natural gas exports are causing a revolt within the Democratic Party. |
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| There is almost a 100 percent chance that 2023 will be the hottest year ever recorded, the National Oceanic and Atmospheric Administration (NOAA) announced. |
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Sen. Joe Manchin (D-W.Va.) has attacked proposed hydrogen tax credits from the Biden administration, calling them "horrible" and vowing to fight them. |
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Branch out with a different read on The Hill: |
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The fate of a contentious plan to reintroduce a gray wolf population into Colorado will be decided Friday, a federal district court judge declared at a Thursday hearing in Denver. The forthcoming … |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Nine breakthroughs for climate and nature in 2023 you may have missed (BBC)
Power Goes Out, Very Briefly, in New York City (The New York Times) Saudi delegation to climate conference included undeclared oil company employees, nonprofit says (NBC News)
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Two key stories on The Hill right now: |
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Republican Sen. Markwayne Mullin (R-Okla.) is warning House Republicans that President Biden could not be impeached and removed from office for any conduct or crimes committed before he was elected president in 2020. Read more |
| Bob Vander Plaats, an influential Iowa evangelical leader, said he doesn't believe recent polling that shows evangelical voters still support former President Trump. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you next week! |
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