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☆ 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.

☆ Bill Gates-backed nuclear demonstration project in Wyoming delayed because Russia was the only fuel source
▼ + stars: | 2022-12-16 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +4 min

An artist rendering of the advanced nuclear power reactor demonstration project that Bill Gates' nuclear innovation company, TerraPower, plans to build in the frontier-era coal town, Kemmerer, Wyoming. TerraPower's advanced reactor demonstration will face delays of at least two years because its only source of fuel was Russia, and the Ukraine war has closed the door on that trade relationship. Wyoming Senator John Barrasso, a Republican, thinks it's a wake-up call for the U.S."America must reestablish itself as the global leader in nuclear energy," Barrasso said in a written statement. "Instead of relying on our adversaries like Russia for uranium, the United States must produce its own supply of advanced nuclear fuel." Barrasso also sent a letter to the Energy Secretary Jennifer Granholm to urge the United States to move faster in securing a source of HALEU.

Republican leaders had promised voters during the election they would cut the mining permit review timeline in half and boost domestic EV mining, rather than seek more supply overseas. Westerman and other Republicans will be partially stymied by Republicans' failure to wrest control of the U.S. Senate from Democrats. With their newfound control, Republicans could threaten to withhold funding from agencies perceived as taking too long to approve mines. The Resolution project is opposed by Representative Raúl Grijalva, an Arizona Democrat who will relinquish his chairmanship of the House Natural Resources Committee to Westerman. Republicans say that expanding such deals to other countries is not a priority for the new Congress.

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