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President Donald Trump One big beautiful bill It ends with ancient federal support for solar and wind energy while creating a friendly environment for oil, gas and coal.
The House of Representatives took place on Thursday Thursday the day before the White House Senate The narrowly approved conflicting legislation on Tuesday.
Trump has given his priorities for energy production. The US will count on oil, gas, coal and nuclear to meet its growing energy needs, the president said last weekend, beating the wind and solar energy.
“I don’t want windmills to destroy our place,” Trump said in an interview that was aired June 29. “I do not want these sunny things where they go on miles, and they cover the half -gland that is ugly as hell.”
The adoption of the President of the fossil fuels and hostility to renewable energy sources is reflected in his legislation on domestic politics. According to Lobby Group, it provides most of the main priorities of the oil and gas sector, while completing tax credits that have played a decisive role in the growth of solar and wind energy.
Oil, gas and coal – winners
The law opens federal lands and waters to drilling oil and gas after the Biden administration took part in the borders, providing 30 rental sales in the Gulf for 15 years, more than 30 annually on lands in nine states and providing industry access to Alaska.
The law also reduces the fees that manufacturers pay the government to pump oil and gas on federal lands, encouraging a higher production volume.
“This bill will become the most transformation legislation, which we have seen in the decade in terms of access to both federal lands and federal waters,” said Mike Sommers, President of the US Institute of Oil, N Industry Lobify Group, CNBC. “This includes almost all our priorities.”
The law also pushes oil companies to use a tax loan to capture carbon to produce more gross. The tax loan has been designed to support the charged technology that fixes carbon emissions and stores them underground. According to the Trump bill, manufacturers will increase the tax benefits for the introduction of these emissions into wells for more oil.
The law ends with a tax loan of hydrogen in 2028, later than the previous versions of the bill. Chevron. Exxon And others invest in hydrogen fuel projects.
“I have a number of members who plan to invest greatly in hydrogen, and therefore the expansion by the end of 2028 has become a welcome priority that was fulfilled,” Sommers said.
The coal industry is also a large winner of the law, which provides at least 4 million additional hectares of federal soil for mining. The law also reduces the fees that coal companies pay the government for federal land, and allows you to use an advanced tax loan for production of metallurgical coal used to make steel.
Sunny and wind – these are losers
The phase law eliminates pure investment in electricity and tax credits for wind and solar energy that have played a decisive role in the growth of renewable energy industry. Investment loan has been in force since 2005 and a production loan since 1992. The law on inflation reduction has extended the life of at least 2032.
Sun and wind farms coming to the service after 2027 are no longer eligible for loans. However, there is an exception for projects that begin construction within 12 months after the bill becomes a law.
The speech is more gradual than the previous versions of the legislation, which was tough on December 31, 2027. This gave all the sun and wind projects only 2.5 years on the Internet to use loans.
“Despite the limited improvements, this legislation undermines the basis of returning to America and the global energy management,” – said Obigeil Ross Hopper, CEO of the Solar Energy Industries.
Related tax credit to use US components in sunny and wind farms. Location allows projects that start construction during the year after the law is passed. The loan was designed to push the demand for US factories to violate the country’s dependence on China’s equipment.
“If nothing changes, the factories begin to close,” said Michael Carr, Executive Director of the Solar Energy Producers, CNBC. “The factories located on the drawing board, which is probably Alov (profitable) two weeks ago, maybe not a pencil now. We will see that investments are slowing down in the sector.”
