Commodities and Futures News

White House backs faster energy project permits, joining Republicans

2023.05.10 13:13


© Reuters. FILE PHOTO: U.S. President Joe Biden speaks with members of his “Investing in America Cabinet” in the Roosevelt Room at the White House in Washington, U.S., May 5, 2023. REUTERS/Leah Millis//File Photo

By Jarrett Renshaw and Timothy Gardner

WASHINGTON (Reuters) -The White House on Wednesday called on Congress to pass permitting legislation that would help speed up clean energy and fossil fuel projects, betting that the bipartisan measure may help end a standoff on the debt ceiling.

The renewed push on permitting reform comes the day after President Joe Biden met with top Republican and Democratic lawmakers for the first time in three months to avoid a historic default on U.S. debt that the Treasury Department has warned could come in weeks.

Republicans have made permitting reform a priority and Biden, who last year supported a bill from Senator Joe Manchin, a fellow Democrat, indicated on Tuesday that he was open to discussing the issue as part of the talks.

The reform measures applying to oil and gas projects are opposed by progressive Democrats and environmental groups who say they could greenlight dangerous projects.

“Right now, the permitting process for clean energy infrastructure, including transmission, is plagued by delays and bottlenecks. These delays are pervasive at every level of government, federal, state and local. We got so good at stopping projects that we forgot how to build things in America,” White House climate adviser John Podesta told attendees at forum hosted by the Bipartisan Policy Center on Wednesday.

The White House is backing a bill by Manchin of West Virginia, who has grown more critical in recent months of the administration’s attacks on the fossil fuel industry. West Virginia is a major coal producer and Manchin’s family has benefited financially from the industry.

The White House released a detailed fact sheet outlining reform measures its seeking, including helping clean energy projects like wind and solar get on the grid faster.

Manchin’s legislation sets a two-year limit on environmental reviews of major federal energy projects, including ones on fossil fuels and directs the president to designate at least 25 high-level energy projects and prioritize their permitting.

The bill also calls for completion of the $6.6 billion Equitrans Midstream (NYSE:) Corp’s Mountain Valley Pipeline, which would run through Manchin’s state.

The White House said it is using existing authorities to speed permitting of energy projects. For example, the law governing claims for minerals used in everything from solar panels to electric vehicles is more than 150 years old, it said.

Podesta told Reuters last week the administration will support the bill because it would help clean power companies use hundreds of billions of dollars in tax credits in the president’s climate law over the next decade.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,358.35 0.17%
ethereum
Ethereum (ETH) $ 3,419.44 0.99%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 255.81 1.25%
bnb
BNB (BNB) $ 682.91 1.46%
xrp
XRP (XRP) $ 1.45 6.95%
dogecoin
Dogecoin (DOGE) $ 0.434184 5.08%
usd-coin
USDC (USDC) $ 0.999712 0.03%
cardano
Cardano (ADA) $ 1.07 2.96%
staked-ether
Lido Staked Ether (STETH) $ 3,415.93 1.05%
tron
TRON (TRX) $ 0.216841 3.28%
stellar
Stellar (XLM) $ 0.57976 32.58%
avalanche-2
Avalanche (AVAX) $ 42.01 1.78%
the-open-network
Toncoin (TON) $ 6.39 13.27%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 0.01%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,051.00 1.37%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,899.23 0.43%
polkadot
Polkadot (DOT) $ 9.06 17.81%
chainlink
Chainlink (LINK) $ 17.68 3.45%
bitcoin-cash
Bitcoin Cash (BCH) $ 511.38 3.65%
weth
WETH (WETH) $ 3,418.85 0.45%
sui
Sui (SUI) $ 3.45 4.37%
pepe
Pepe (PEPE) $ 0.000021 4.18%
near
NEAR Protocol (NEAR) $ 6.61 4.33%
leo-token
LEO Token (LEO) $ 8.68 1.08%
litecoin
Litecoin (LTC) $ 101.19 0.53%
aptos
Aptos (APT) $ 12.86 0.67%
uniswap
Uniswap (UNI) $ 11.16 5.13%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,602.79 1.15%
hedera-hashgraph
Hedera (HBAR) $ 0.15123 1.36%
internet-computer
Internet Computer (ICP) $ 11.62 3.73%
crypto-com-chain
Cronos (CRO) $ 0.196582 2.97%
usds
USDS (USDS) $ 1.00 0.11%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.577148 5.68%
ethereum-classic
Ethereum Classic (ETC) $ 29.90 0.22%
render-token
Render (RENDER) $ 8.08 1.44%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.56 15.47%
bittensor
Bittensor (TAO) $ 538.05 1.33%
kaspa
Kaspa (KAS) $ 0.15409 4.54%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
arbitrum
Arbitrum (ARB) $ 0.880108 4.13%
vechain
VeChain (VET) $ 0.043829 3.83%
whitebit
WhiteBIT Coin (WBT) $ 24.74 0.62%
cosmos
Cosmos Hub (ATOM) $ 9.09 14.45%
bonk
Bonk (BONK) $ 0.000047 6.28%
filecoin
Filecoin (FIL) $ 5.82 13.71%
dai
Dai (DAI) $ 0.999818 0.04%
mantra-dao
MANTRA (OM) $ 3.80 0.24%
okb
OKB (OKB) $ 55.96 9.67%
dogwifcoin
dogwifhat (WIF) $ 3.26 3.66%