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☆ Vast reserves of clean hydrogen fuel could be hiding beneath our feet
▼ + stars: | 2024-03-07 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

Trillions of tons of lightweight, energy-dense hydrogen gas may be hidden deep underground. Those natural reservoirs, known as geologic hydrogen, could be a fruitful carbon-free fuel source. Oil and gas giants BP and Chevron have joined a consortium to study geologic hydrogen. That's when an oil and gas company assessed a mine that had exploded in Mali and found it was full of hydrogen gas. In the US, two long stretches of this rock are a promising place to look for hydrogen reserves, and efforts are already underway.

Persons: Bill Gates, Geoffrey Ellis, Joe Biden's, didn't, Ellis, John Barrasso, Evelyn N, Wang, Pete Johnson Organizations: Service, United Airlines, BP, Chevron, US, Energy, Natural Resources, Business, Research Projects Agency, ARPA Locations: Alberta, Canada, Mali, Kansas, Ontario, Michigan, New Jersey, Georgia, France, Australia, Brazil, Colombia, Albania, Albania's, Tirana, GENT

☆ Mitch McConnell is stepping down in November. 3 men named John have long been angling to succeed him.
▼ + stars: | 2024-02-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

AdvertisementBut three men have long been considered to be candidates — and they're all named John. John Thune, John Barrasso, and John Cornyn. John Thune of South DakotaKevin Dietsch/Getty ImagesThune, 63, is the second-highest-ranking Senate Republican. AdvertisementJohn Barrasso of WyomingAnna Moneymaker/Getty ImagesBarrasso, 71, is the third-highest-ranking GOP senator, serving as chair of the Senate GOP conference. AdvertisementJohn Cornyn of TexasAnna MoneymakerCornyn, 72, is not in Senate GOP leadership — but he served as the conference's whip from 2013 to 2019.

Persons: —, Mitch McConnell, McConnell, Donald Trump, John, John Thune, John Barrasso, John Cornyn, John Thune of, John Thune of South Dakota Kevin Dietsch, Thune, Sen, Tim Scott, Trump, Trump's, John Barrasso of, John Barrasso of Wyoming Anna Moneymaker, He's, Barrasso, John Cornyn of, John Cornyn of Texas Anna Moneymaker Cornyn, he's, Cornyn Organizations: Service, Kentucky Republican, Business, Republican, GOP, Thune, South Dakota Republican, Senate, Safer Locations: Sens, John Thune of South Dakota, John Barrasso of Wyoming, John Cornyn of Texas, Thune, Uvalde , Texas

☆ Top Biden official at Senate hearing defends liquefied natural gas pause
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +2 min

A top U.S. Department of Energy (DOE) official on Thursday defended President Joe Biden's pause on approvals of liquefied natural gas (LNG) exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision. Deputy U.S. Energy Secretary David Turk told the Senate energy committee that the DOE will finish the review as quickly as possible but it he could not predict a timeline other than it would take "months, not years." A U.S. official earlier on Thursday told Reuters "I don't think we're concerned at all about our ability to meet (European) demand." Senator Joe Manchin, a Democrat from natural gas producer West Virginia who called the hearing, said the pause sends the wrong signal to allies in Europe and Asia. The pause signals "the wrong direction for our country, a very wrong direction," Manchin said.

Persons: Energy David M, Turk, Joe Biden's, Biden, David Turk, Joe Manchin, West, Manchin Organizations: Energy, Green Energy Africa, Cape Town International Convention, U.S . Department of Energy, DOE, U.S . Energy, U.S, Thursday, Reuters, LNG Locations: Cape Town , South Africa, United States, Europe, Ukraine, West Virginia, Asia

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

☆ Henry Kissinger, a dominating and polarizing force in US foreign policy, dies at 100
▼ + stars: | 2023-11-29 | by ( Paul Leblanc | Kristin Wilson | ) edition.cnn.com time to read: +15 min

Alfred Eisenstaedt/Time & Life Pictures/Getty Images Kissinger takes a call in his office in the early 1970s. Bettmann Archive/Getty Images Kissinger talks with journalists on his way to meet with NATO foreign ministers. Bettmann Archive/Getty Images Kissinger, second from left, walks with Leonid Brezhnev, secretary-general of the Soviet Communist Party, in 1973. Bettmann Archive/Getty Images Kissinger looks out a window at the King David Hotel in Jerusalem in 1975. Chip Somodevilla/Getty Images Kissinger is greeted by US Sen. John McCain after a Senate Armed Services Committee hearing in 2015.

Persons: CNN — Henry Kissinger, Kissinger, Henry Kissinger, Stephen Voss, Walter, Heinz Alfred Kissinger, Henry, William P, Rogers, Alfred Eisenstaedt, Tom Blau, Richard Nixon, Nixon, Warren Burger, Alamy Kissinger, Le Duc Tho, Tho, Wally McNamee, Corbis, Zhou Enlai, Leonid Brezhnev, Dirck Halstead, Gerald Ford, Nancy, pats, King David Hotel, David Hume Kennerly, Kirk Douglas, David, Elizabeth, Mikki Ansin, Diana Walker, Peter Southwock, Princess Diana, Colin Powell, Barbara Walters, Diana, David McNew, George W, Bush, Charles Dharapak, Christian Wulff, Stephan Schraps, Hillary Clinton, Madeleine Albright, John Kerry, Chip Somodevilla, US Sen, John McCain, Tom Williams, Ash Carter, Yin Bogu, Cui Tiankai, Zhang Chaoqun, Donald Trump, Jim Watson, Andrew Harnik, Maximilian, Daniel Vogl, Xi Jinping, Nixon’s, Reagan, ” Kissinger, CNN’s Wolf Blitzer, ”, CNN’s Fareed Zakaria, “, Lincoln, Bernie Sanders, Count, ” Sanders, Clinton, “ I’ve, Zakaria Organizations: CNN, Kissinger Associates, Bettmann, Getty, Harvard University, Harvard's Center for International Affairs, National Security Council, US Arms Control, Disarmament Agency, State Department, Camera, State, Chief, Everett, Inc, Paris Peace Accords, MPI, NATO, Soviet Communist Party, Hulton, King, Times Newspapers, Concord Academy, Senate Energy, Richard, US Diplomacy Center, US, Armed Services, Nixon Library, Museum, Capitol, Science, Arts, New York’s, Nazis, United States Army, Jewish, Pentagon, CBS News, Richard Nixon Presidential Library, Republican Party Locations: Nazi Germany, Connecticut, Washington , DC, Fürth, Germany, United States, Paris, Beijing, ITAR, Washington ,, Japan, Egypt, Israel, Jerusalem, Massachusetts, Boston, New York, Yorba Linda , California, Berlin, Xinhua, AFP, Bavarian, Vietnam, China, Cambodia, Chile, Soviet, Saigon, Laos, New, Furth, Nazi, Soviet Union, South Vietnam, North Vietnam, Fuerth

☆ Senator asks Treasury to bar Chinese battery firms, minerals from US EV tax credits
▼ + stars: | 2023-11-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, U.S. and Chinese flags are seen in this illustration taken, September 26, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Democratic Senator Joe Manchin urged the U.S. Treasury on Monday to adopt the "strictest possible standards" to prevent Chinese-produced minerals or Chinese battery companies from winning electric vehicle tax credits. In 2022, Congress passed the Inflation Reduction Act barring $7,500 in future consumer EV tax credits if any battery components are manufactured or assembled by a "foreign entity of concern." The foreign entity of concern rules come into effect in 2024 for completed batteries and 2025 for critical minerals used to produce them. A key decision in the guidance is whether Ford Motor Co's (F.N) deal to license the technology of Chinese battery manufacturer CATL (300750.SZ) for use in Ford-owned U.S. battery plants will meet the Treasury's standards to access the tax credits.

Persons: Dado Ruvic, Joe Manchin, Manchin, Janet Yellen, Ford, David Shepardson, Chris Reese, Jonathan Oatis Organizations: REUTERS, Rights, Democratic, U.S . Treasury, Energy Committee, Treasury, Ford, Thomson Locations: China, Michigan

Manchin never defended the remark but was criticized by West Virginia Republicans for what his party’s nominee said. By 2022, coal mining employees in West Virginia made up nearly 30% of all coal employees in the country. John Deskins, director of the West Virginia University Bureau of Business and Economic Research, said 75% of West Virginia’s coal jobs were disappearing before coal production dropped because of mechanization. West Virginia Democratic Party Chair Mike Pushkin said Trump never fulfilled his promise. He said the state Democratic Party was branded “anti-jobs and anti-coal” because of environmental policies coming from the national party.

Persons: Joe Manchin’s, Robert C, Byrd, Jennings Randolph, Jay Rockefeller, Manchin, Joe Biden's, Jim Justice, Donald Trump, Barack Obama, Trump, Hillary Clinton, John Deskins, ”, Mike Pushkin, “ Donald Trump, Robert Rupp, " Rupp, ” Rupp, Rupp, “, “ He’s, Biden, Jim Crow, William Hal Gorby, you’re, ” Manchin, Pat McGinley, ” McGinley, Democratic Sen, Mike Caputo, Kavish Harjai Organizations: U.S, Senate, West Virginia's, Democratic, Mountain State, Republican Gov, Biden, Senate Energy, Natural Resources Committee, West Virginia Republicans, West Virginia University, of Business, Economic Research, West Virginia Democratic, Democrats, Retired West Virginia Wesleyan, New, Democrat, Immigrants, Black, West Virginians, ” West Virginia University, Big Branch, Big, Mine Safety Administration, Massey Energy, West Virginia Democrats, United Mine Workers, America, Democratic Party, Press Locations: CHARLESTON, W.Va, Washington, Manchin, West Virginia, Kentucky, Virginia, West, Towns, Europe, ”, Randolph, Los Angeles

Fluctuations since the attack pushed oil prices as high as $96. Until something like that happens, “the oil market is going to be like everyone else, monitoring the events in the Middle East,” Lipow said. One reason 1970s-style gas lines are unlikely: U.S. oil production is at an all-time high. Weekly domestic oil production has doubled from the first week in October 2012 to now. Lawmakers from both parties have urged Biden to block Iranian oil sales, seeking to dry up one of the regime’s key sources of funding.

Persons: ” Fatih Birol, ”, Andrew Lipow, ” Lipow, Mike Sommers, Sommers, “ America’s, “, Joe Biden's, Israel, Biden, Sofia Guidi Di Sante, Wyoming Sen, John Barrasso, “ Joe, Barrasso, ____ McHugh, Choe Organizations: WASHINGTON, International Energy Agency, ”, Associated Press, Brent, Lipow Oil Associates, U.S . Energy Information Administration, Energy Department, American Petroleum Institute, Hudson Institute, Commerzbank, Oil, Rystad Energy, Republican, Senate Energy, Natural Resources Committee, Democratic, Keystone XL, Strategic Petroleum Reserve, The Energy Department, The Treasury Department, Treasury Locations: East, Israel, Saudi Arabia, Russia, China, Paris, Gaza, Iran, Houston, Hormuz, U.S, Europe, Washington, OPEC, Lebanon, Venezuela, The U.S, Wyoming, America, Frankfurt, Germany, New York

CHARLESTON, W.Va. (AP) — Sen. Joe Manchin of West Virginia has benefited from waiting to reveal where he stands as the swing vote in a chamber closely divided between Democrats and Republicans. During a multi-day trip to West Virginia's capital this week, the 76-year-old expressed growing frustration with the polarized U.S. two-party system. He managed to win reelection in 2018 in one of former President Donald Trump's most loyal states as the last of his party to hold statewide office in now-deep red West Virginia. Still, Justice has a high approval rating in West Virginia, making him a formidable opponent for any candidate. Robert Rupp, a retired political history professor at West Virginia Wesleyan, called Manchin one of the most successful campaigners in recent state history because of his personal relationships with constituents.

Persons: — Sen, Joe Manchin, He's, —, ”, Manchin's, he's, Manchin, ” Manchin, Donald Trump's, Jim Justice, Joe Biden, Chuck Schumer, Alex Mooney, He’s, Robert Rupp, Rupp, ” Rupp, “, shouldn't, We've Organizations: Republicans, Amtrak, West, West Virginia's House, Democratic, Democratic Party, Republican Gov, White, Energy, Natural Resources, Justice, Senate, Democrat, GOP, Trump, West Virginia Wesleyan Locations: CHARLESTON, W.Va, West Virginia, West, Charleston, West Virginia's, New Hampshire, Washington

☆ House passes bill to improve wildfire prevention accountability after NBC News report
▼ + stars: | 2023-09-13 | by ( Adiel Kaplan | ) www.cnbc.com time to read: +3 min

A wildfire burns on the island of Maui near an intersection in Lahaina, Hawaii, August 9, 2023. A bill to improve how the federal government tracks wildfire prevention work passed the House in a near-unanimous 406-4 vote on Wednesday, a month after the nation's deadliest wildfire in over 100 years killed at least 115 people in Hawaii. A 2022 NBC News investigation found that the United States Forest Service had overstated how much land it treats to reduce wildfire risk by an estimated 21% over a 15-year period. Tiffany, chairman of the House Natural Resources committee's federal lands subcommittee, cited NBC News' reporting when he introduced the bill. The bill applies to hazardous fuel reduction done by federal land management agencies, which mostly work on federally owned land.

Persons: Tom Tiffany, I'm, Tiffany, Sen, Joe Manchin, John Barrasso Organizations: NBC, United States Forest Service, Natural Resources, Service, Interior Department, Senate Energy, Natural Resources Committee Locations: Maui, Lahaina , Hawaii, Hawaii, Lahaina, California, Paradise

☆ The debt-ceiling bill that just passed the Senate eases the way for a new gas pipeline — and for clean energy projects like EV charging and solar panels
▼ + stars: | 2023-06-02 | by ( Bartie Scott | Eliza Relman | ) www.businessinsider.com time to read: +5 min

The debt-ceiling bill includes reforms that aim to speed up construction on energy projects. It also claims a West Virginia pipeline is in the national interest — and pushes through its completion. The reforms in the bill include limiting the environmental permitting process to two years, along with requiring projects to name a single lead agency that would develop one master environmental review document. Now, the permitting reforms included in the deal would force federal agencies to approve all remaining permits for the pipeline and allow it to bypass the courts and fast-track construction. Manchin, who is also the chairman of the Senate Energy and Natural Resources Committee, plans to bring more comprehensive legislation to the Senate floor by the end of the summer.

Persons: —, Kevin McCarthy, Raúl Grijalva, polluters, Grijalva, Melanie Stansbury, Stansbury, Sen, Joe Manchin, Tim Kaine, Kaine, Manchin Organizations: Service, Environmental, White, Sunday, Arizona, Natural Resources Committee, NEPA, Natural Resources, Infrastructure Law, Democratic, Senate, Senate Energy Locations: West Virginia, Virginia

☆ Republicans ask watchdog to assess US oil reserve management
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File PhotoWASHINGTON, May 8 (Reuters) - Two Republicans on Monday asked a congressional watchdog to assess the Biden administration's management of the Strategic Petroleum Reserve and audit its modernization program, saying sales from the SPR have undermined U.S. energy security. Over about six months last year, the Biden administration conducted a record sale of 180 million barrels of oil to combat high gasoline prices after Russia's invasion of Ukraine. The Biden administration wrote to lawmakers last month, saying the sales did not damage the SPR. The lawmakers said they were concerned about delays and cost overruns in the SPR modernization program authorized by Congress in 2015.

[1/2] Solar panels are built at the QCells solar energy manufacturing factory in Dalton, Georgia, U.S., March 2, 2023. The Inflation Reduction Act, which passed last year without a single Republican vote, is a signature Biden accomplishment and offers $369 billion investment to address climate change. This includes $270 billion in tax incentives. Republicans have portrayed the tax credits as a distortion of the free market that gives unfair advantage to clean-energy producers over fossil fuels. Frisone, of CZAR-Power, said he plans to call Republican officeholders to make his case, adding, "This is a political stunt -- why are we doing it?"

WASHINGTON, March 31 (Reuters) - The U.S. Treasury Department on Friday unveiled stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grant buyers another two weeks before the new requirements take effect. The EV battery sourcing guidance issued on Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18. The government will publish by April 18 a revised list of qualifying models and tax credit amounts. The $430 billion Inflation Reduction Act (IRA) signed by Biden in August eliminated manufacturer's EV sales caps but imposed new conditions on EV credits. Republican Senator Marco Rubio introduced legislation this month seeking to block EV tax credits for batteries produced using Chinese technology, saying it would "significantly restrict the eligibility of IRA tax credits and prevent Chinese companies from benefiting."

☆ Manchin threatens to sue US Treasury over EV tax credit rules
▼ + stars: | 2023-03-30 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, March 29 (Reuters) - Senate Energy Committee Chair Joe Manchin said on Wednesday he may go to court after the U.S. Treasury releases guidance later this week on battery sourcing guidance for electric vehicle tax credits. Manchin said he is most concerned about how Treasury will classify processing and manufacturing in determining eligibility for $7,500 EV tax credits. Manchin, who has often pushed fossil fuel industry interests in Congress, says he is trying to move the EV battery supply chain from China. Reuters reported earlier the Treasury battery sourcing rules for electric vehicle tax credits, due out by Friday, will result in fewer vehicles qualifying for full or partial credits. The EV rules are part of a $430 billion bill passed by Democrats in August to cut climate emissions and reduce drug costs, dubbed the Inflation Reduction Act.

☆ Democratic Sen. Manchin threatens legal action over Treasury EV battery guidance
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, March 29 (Reuters) - Senate Energy Committee Chair Joe Manchin said on Wednesday he may go to court after the U.S. Treasury releases guidance later this week on battery sourcing guidance for electric vehicle tax credits. "If it goes off the rails," and if it violates the intent of the climate legislation approved in August, "I will do whatever I can -- if that means going to court and I can do it, I'd do it," said Manchin, a Democrat. Manchin said he is most concerned about how Treasury will classify processing and manufacturing in determining eligibility for $7,500 EV tax credits. Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ US battery sourcing guidance to cut some EV tax credits -official
▼ + stars: | 2023-03-29 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 29 (Reuters) - The U.S. Treasury Department's long-awaited guidance on battery sourcing requirements for electric vehicle tax credits due out by Friday will result in fewer vehicles getting full or partial credits, a U.S. official told Reuters. The Biden administration believes that over time the tax credit will result in more EVs sold as automakers revamp supply chains to meet critical mineral and battery component rules, the official said. It is not immediately clear when or how many EVs will lose tax credits or see them cut. On Tuesday, the United States and Japan on Tuesday signed a trade deal on EV battery minerals, which will grant Japanese automakers wider access to a new $7,500 U.S. EV tax credit. Some of those vehicles may see credits decline after the battery guidance takes effect.

☆ U.S. Treasury to release EV battery sourcing rules next week
▼ + stars: | 2023-03-22 | by ( Nichola Groom | ) www.reuters.com time to read: +3 min

REUTERS/Phil Noble/File PhotoMarch 22 (Reuters) - The U.S. Treasury Department on Wednesday said it will release guidance next week on sourcing requirements for electric vehicle battery tax subsidies under President Joe Biden's climate change law, the first in a string of highly anticipated rules to determine how broadly the credits can be used. It will also issue guidance on selling tax credits and making them refundable, which allows entities without tax liability to use them. The IRA specifices, for instance, that a $7,500 EV tax credit is only available to North American-assembled vehicles that meet certain local battery production and mineral extraction processing standards. In December, Treasury decided not to issue proposed guidance on battery sourcing rules until March, effectively giving some EVs not meeting new requirements a few months of eligibility in 2023 before battery rules take effect. The other half requires manufacturing or assembly of at least 50% of battery components in North America.

☆ Manchin accuses the Biden administration of appeasing 'radical activists' on climate and pledges to block Interior Department nominee
▼ + stars: | 2023-03-10 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Democratic Sen. Joe Manchin says he will block one of President Biden's nominees and potentially others. Manchin says he'll judge nominees on whether they're "political partisans first or Americans first." He's taking issue with the administration's framing of a law he supported as an effort to address climate change. Manchin, of West Virginia, wrote in an op-ed in the Houston Chronicle, noting that energy leaders are gathered in the city for an annual conference. Biden has touted the bill's $370 billion devoted to tackling climate change as the most significant investment the US has made to fight climate change.

☆ Yellen touts battery investments in Tennessee after Biden speech
▼ + stars: | 2023-02-08 | by ( David Lawder | ) www.reuters.com time to read: +3 min

[1/2] U.S. Treasury Secretary Janet Yellen gives a speech after she visited the House of Slaves (Maison des Esclaves) at Goree Island off the coast of Dakar, Senegal January 21, 2023. "The Inflation Reduction Act is offering meaningful tax credits to spur clean energy investment and production. Importantly, the law deliberately encourages place-based investments," Yellen said in excerpts of remarks for delivery at the Ultium Cells plant. EUROPEAN COMPLAINTSBut European and Asian allies have complained that the Inflation Reduction Act's tax subsidies will pull green investments away from those regions toward the United States. Le Maire also said that U.S. rules on the tax credits, now being finalized by Yellen's staff, should be made available to a "maximum" of European components.

☆ U.S. Treasury secretary to visit GM JV battery plant in Tennessee
▼ + stars: | 2023-02-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 6 (Reuters) - Treasury Secretary Janet Yellen will visit a General Motors (GM.N) LG Energy Solution (373220.KS) joint venture battery cell manufacturing plant in Tennessee on Wednesday to tout rising U.S. electric vehicle and battery production, the department said Monday. The 2.8-million-square-foot, $2.6 billion Ultium Cells plant in Spring Hill, Tennessee, is set to begin production later this year and is the second of three planned JV plants. The plant is expected to eventually employ 1,700 people and will produce cells for the Cadillac Lyriq, which is produced at the adjacent GM assembly plant. Yellen and other Cabinet officials are traveling this week to tout the IRA's boosting of green energy manufacturing and battery production. China currently produces 70% of batteries for electric vehicles, Treasury said.

☆ U.S. Senator blocks bid to close EV tax window
▼ + stars: | 2023-01-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 26 (Reuters) - Senator Debbie Stabenow thwarted a bid on Thursday by fellow Democrat Joe Manchin to pass a measure that would block some electric vehicles from receiving a $7,500 tax credit. The $430 billion U.S. Inflation Reduction Act passed in August restricts the $7,500 consumer tax credits to North American-made EVs and imposes new battery sourcing rules and again made General Motors (GM.N) and Tesla (TSLA.O) eligible for EV tax credits. That drew Manchin's ire, who proposed legislation on Wednesday to make the battery tax credit requirements retroactive to Jan. 1. Automakers need more time to meet battery sourcing requirements, she said. The "March target release date for battery sourcing guidance reflects the time that has been needed to work through significant complexities."

☆ U.S. senator seeks to bar EVs from tax credits not meeting sourcing rules
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 25 (Reuters) - U.S. Senate Energy and Natural Resources Committee chair Joe Manchin on Wednesday introduced legislation that would immediately impose battery sourcing requirements on electric vehicles to qualify for $7,500 tax credits. The U.S. Treasury in December said it would not issue proposed guidance on battery sourcing rules until March, giving some electric vehicles not meeting new requirements a brief window of eligibility in 2023 before the battery rules take effect. Manchin's legislation would make all of the battery requirements for tax credits retroactive to Jan. 1. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

People communicate with each other at the Congress Center for the World Economic Forum WEF Annual Meeting 2023 in Davos, Switzerland, Jan. 15, 2023. DAVOS, Switzerland – U.S. lawmakers quietly took part in a private ritzy lunch atop the World Economic Forum on Monday featuring dozens of influential business leaders, according to people with direct knowledge of the matter. Joe Manchin, D-W.Va., Chris Coons, D-Del., Kyrsten Sinema, I-Ariz. and a few members of the House of Representatives, these people explained. Coons, Manchin, Sinema and Kemp are among the U.S.-based officials scheduled to participate in panel sessions at this year's conference. These private events on the sidelines of the World Economic Forum often serve as meet-and-greets between CEOs, billionaires and government officials.

☆ Senator wants U.S. to pause implementation of new electric vehicle tax credits
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: 1 min

Dec 29 (Reuters) - Senate Energy and Natural Resources Committee chair Joe Manchin on Thursday urged the U.S. Treasury to pause implementation of commercial and consumer electric vehicle tax credits. The U.S. Treasury on Thursday issued guidance that will allow automakers to take advantage of commercial vehicle tax credits for consumer leasing that do not have the same strict battery sourcing rules that are in consumer purchase credits aimed at shifting U.S. supply chains away from China. Manchin said the Treasury guidance "bends to the desires of the companies looking for loopholes and is clearly inconsistent with the intent of the law. It only serves to weaken our ability to become a more energy secure nation." Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

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