2021-04-12 10:15:00
U.S. OIL TAX BREAKS $35 BLN
ENERDATA - 9 Apr 2021 - The US Department of the Treasury intends to eliminate a range of tax breaks for oil and gas companies, considering that subsidies undermine long-term energy independence and climate action. The “Made in America” tax plan doesn't specify which tax breaks for the fossil fuel industry would be targeted, but the intangible drilling costs that currently authorises oil and gas producers to deduct most costs from drilling new wells may be concerned. Removing this specific tax measure could generate US$13bn over 10 years. Overall, eliminating fossil fuel subsidies could increase government receipts by US$35bn over 10 years.
Earlier in April 2021, the US administration unveiled a 10-year US$2,000bn infrastructure plan, which proposes US$100bn in spending to upgrade and build out the country’s electric transmission system. The country intends to achieve 100% carbon-free power mix by 2035 and the production tax credit and the investment tax credit for clean power generation should be extended by 10 years.
-----
Earlier:
2021, March, 30, 12:30:00
U.S. NUCLEAR EXPANSION
Committee chairman Sen. Joe Manchin (D., W.Va.) highlighted the importance of maintaining the nation’s position as a global leader in nuclear energy and called for pushback against strategic efforts by China and Russia to supplant the United States in this role.
2021, February, 24, 10:30:00
U.S. ENERGY COOLING
The power supply collapse in Texas was caused by extreme and aberrant cold weather, freezing the electric generators. The system wasn’t designed to withstand what occurred -- and what may occur elsewhere in a time of new and terrifying instability in the world’s weather systems.
2021, February, 19, 13:10:00
U.S. LNG EXPORTS WILL UP
U.S. liquefied natural gas (LNG) exports will exceed natural gas exports by pipeline in the first and fourth quarters of 2021 and on an annual basis in 2022.
2021, February, 17, 15:30:00
U.S. NUCLEAR STRATEGY DEVELOPMENT
"Clean energy technologies including advanced nuclear energy are essential to meet mid-century emission reductions goals," NIA Executive Director Judi Greenwald said.
2021, February, 11, 14:25:00
U.S. OIL IMPORTS WILL UP
U.S. increases in net crude oil imports in 2021 and 2022 because domestic crude oil production and inventory draws alone will not meet the needs of U.S. refineries.
2021, February, 1, 12:10:00
U.S. GAS MORATORIUM
Following the recent issuance of a 60-day moratorium on new drilling permits and land leases on federal land, President Joe Biden Jan. 27 signed an executive order that would suspend all new federal oil and gas leases,
2021, January, 26, 12:10:00
U.S. ENERGY TRANSITION STRATEGY
Some of the country's largest energy customers, including Amazon, Facebook, General Motors, McDonald's, PepsiCo, Target and Walmart have called on the federal government to implement "strong and specific national policies" to accelerate the transition to a zero-carbon dioxide emissions power sector
