Carbon Capture Industry Tweaks Message For The Trump Era [Barron's]
Occidental Petroleum Corporation (OXY)
Last occidental petroleum corporation earnings: 2/27 04:13 pm
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Source: Barrons
At the CERA Week energy conference this week, supporters of CCS, a climate mitigation strategy long favored by oil companies, described the industry as poised for potentially significant growth. But that outcome rests on the survival of a key CCS tax credit updated most recently in the Inflation Reduction Act (IRA) of 2022, a signature Joe Biden climate law frequently mocked by Trump. The lobbying strategy is to frame CCS as "an economic competitiveness and American leadership issue," said Jessie Stolark, executive director of the Carbon Capture Coalition. That messaging pivot is also being practiced to make the IRA's hydrogen provisions more "palatable" given Trump's disdain for the renewable energy and net-zero emissions initiative known as the Green New Deal, said Frank Wolak, president of the Fuel Cell and Hydrogen Energy Association. The IRA's provisions supported hydrogen renewable energy and fossil fuels, the latter of which "wasn't completely of interest to those who
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