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Making Fossil Fuels Pay for Their Damage

Legal Planet

Production and combustion of fossil fuels imposes enormous costs on society, which the industry doesn’t pay for. One option, a tax on carbon dioxide emissions, gets the most attention but seems politically impossible. A more promising alternative might be a clean-up tax on the fossil fuel industry.

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30 Major Climate Initiatives Under Biden

Legal Planet

By one count , Biden has overturned more than two dozen of Trump actions affecting the fossil fuel industry. Trump recently told Big Oil executives over dinner that they should give him $1 billion in campaign donations because he planned to immediately reverse climate regulations, the New York Times and Washington Post both reported.

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Proposed Electrolyzer Requirements for the Hydrogen Tax Credit: Strengths and Risks

Union of Concerned Scientists

In late December, the Treasury Department and the Internal Revenue Service (IRS) released proposed regulations for the Section 45V Clean Hydrogen Production Tax Credit. Today, hydrogen is overwhelmingly produced through a heavily polluting fossil fuel-based process. It is a climate problem, not a climate solution.

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The Supreme Court’s Latest Decision Is a Blow to Stopping Climate Change

Union of Concerned Scientists

The majority 6–3 decision sharply curtails the EPA’s authority to set standards based on a broad range of flexible options to cut carbon emissions from the power sector—options such as replacing polluting fossil fuels with cheap and widely available wind and solar power coupled with battery storage.

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Shell called out for promoting fossil fuels to youth via Fortnite game

Corp Watch

The company was a major target of anti-apartheid boycotts in the 1980s over its role in supporting the white South African government with fuel and money but just 192 rand ($22) in annual rent for two petrol stations on Umnini tribal land in KwaZulu-Natal, where blacks were not allowed to own land. billion pounds of ethylene a year.

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Without Sufficient Guardrails, the Hydrogen Tax Credit Could Increase Emissions

Union of Concerned Scientists

Solutions considered in isolation can often appear to yield steady progress in curbing carbon pollution and yet, when those same solutions are considered within the full context of the energy transition, their actual contributions can turn out to be insufficient or, worse, entirely misaligned, resulting in a system-wide increase in emissions.

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Biomethane Threatens to Upend the Clean Hydrogen Tax Credit

Union of Concerned Scientists

The Inflation Reduction Act’s new hydrogen production tax credit , known as code 45V, is intended to incentivize a shift to low-carbon hydrogen production by offering producers a credit that increases in value as the carbon emissions associated with produced hydrogen declines.