Energy & Environment — Biden rules could tighten number of incentive-eligible EVs

Presented by BP — The administration's latest tax credit rules are aimed at cracking down on China.

View Online Energy & Environment Energy & Environment   PRESENTED BY  The Big Story  Treasury rule could mean fewer EVs eligible for new tax credit The Biden administration's new proposed rules for which electric vehicles (EV) qualify for Inflation Reduction Act tax credits seek a balancing act between avoiding reliance on China and slowing down the transition.  © Getty The rules on "foreign entities of concern," which are ineligible for the credits, disqualify entities whose boards are at least 25 percent controlled by China or other affected countries, which include North Korea, Iran and Russia.   The rules, set to take effect in January, represent a tightrope the administration has attempted to walk that creates domestic jobs while running up against China's market dominance for much of the refining and production of critical minerals used in batteries.   White House renewable energy adviser John Podesta struck an optimistic note, telling reporters the rules will "support good-paying U.S. jobs … paving the way for an electric transportation future that's built here in America."    Read more at TheHill.com. 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. Did someone forward you this newsletter? Subscribe here. Essential Reads  How policy will affect the energy and environment sectors now and in the future: Manchin blasts exemptions in Biden administration rule on foreign EV parts Senate Energy Committee Chair Joe Manchin (D-W.Va.) blasted the Biden administration's new guidance on "foreign entities of concern" (FEOCs) ineligible for the Inflation Reduction Act's (IRA) electric vehicle (EV) tax credits, calling them contradictory to the text of the landmark climate law.  Full Story UN chief calls on world leaders to plan for future without fossil fuels United Nations Secretary-General António Guterres called on world leaders gathered at the annual U.N. climate conference Friday to plan for a future without fossil fuels.  Full Story COP28 host faces scrutiny over oil ties, human rights as global climate talks kick off As the 28th United Nations climate change conference (COP28) begins in Dubai, the venue itself is facing scrutiny over the influence of the United Arab Emirates's (UAE) oil industry and reported human rights abuses in the country.  Full Story A MESSAGE FROM BP EV charging or oil & gas? For bp, it's both. bp is investing in America by building EV charging hubs in California and starting up new infrastructure in the Gulf of Mexico. See what doing both means for energy nationwide.  In Other News  Branch out with a different read from The Hill: DOJ asked to investigate water utility hack Three members of Pennsylvania's congressional delegation have asked the Department of Justice to investigate how foreign hackers breached a water authority near Pittsburgh, which prompted warnings to other water treatment facilities. Full Story What We're Reading  News we've flagged from other outlets touching on energy issues, the environment and other topics: Climate Change Drives New Cases of Malaria, Complicating Efforts to Fight the Disease (The New York Times)   Exploding Carbon-Credit Market Helps Brazil Regrow Rainforest (The Wall Street Journal) California Supreme Court rules against case seeking damages from utility over its planned power outages (Santa Rosa Press-Democrat) On Our Radar  Upcoming news themes and events we're watching:  Saturday Vice President Harris is expected to appear at the COP28 summit and deliver remarks on climate change Tuesday The House Energy and Commerce Committee is slated to hold a hearing titled "Leading a New Era of Energy Dominance, Security, and Environmental Stewardship." The House Natural Resources Committee will hold a hearing on opportunities for tribal land management The House Natural Resources Committee will hold a hearing examining the National Parks Air Tour Management Program Wednesday The Senate Environment and Public Works Committee will hold a hearing on the Bipartisan Infrastructure Law's investments in habitats and ecosystems. The director of the Fish and Wildlife Service is slated to testify. A MESSAGE FROM BP More lower carbon energy + keeping oil & gas flowing bp's US workforce – our largest in the world – is keeping oil and gas flowing and developing more lower carbon energy. It's our "and, not or" approach at work.  What Others are Reading  Two key stories on The Hill right now: 5 takeaways from the fiery DeSantis-Newsom debate on Fox Florida Gov. Ron DeSantis (R) and California Gov. Gavin Newsom (D) went head-to-head in a Fox News debate Thursday as the governors — one a current presidential contender and the other seen as a future White House prospect — clashed over their records and policy. Read more House expels George Santos in historic vote The House voted Friday to expel Rep. George Santos, ending the New York Republican's tumultuous tenure in Congress and officially etching his name in the history books as the sixth lawmaker ever to be ousted from the lower chamber. Read more   You're all caught up. See you next week!  Check out The Hill's Energy & Environment page for the latest coverage. Like this newsletter? Take a moment to view our other topical products here 📩 Privacy Policy  |  Manage Subscriptions  |  Unsubscribe  1625 K Street NW, 9th Floor, Washington, DC 20006 Copyright © 1998 - 2023 Nexstar Media Inc. | All Rights Reserved.

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