Oklahoma Senator changes stance on Renewable Energy after receiving Recovery Act Funds for
U.S to Build 16 Gigawatts of Renewable Energy from Recovery Act Funds
Obama Unveils "Smart Energy" Plan For Green Energy Jobs
Geothermal Energy Produces almost 8 GW of Electricity in U.S.
DOE Announces More Than $200M For Solar, Wind & Water Energy Technologies
France Invests Billions in Renewable Energy Program
Google Funds Wind Farms in North Dakota
Nordic Windpower raises $12M VC Funding for Small 1MW wind turbines
Higher Energy Efficiency Standards for Refrigerators Proposed by DOE
GE Invests $117 Million in EDP Renewables’ Oklahoma Wind Farm and Additional $111 Million
DOE to Award $100M to CleanTech Research
U.S. President Obama Unveils $2.3B Tax Credit to Boost Jobs in Clean Energy
FloDesign Wind Turbines based on Jet Engine Technology display 3-4 times Higher Efficiency
Abengoa and Abound Solar get $2Billion Solar Stimulus Money
Department of Energy Awards $338 Million to Accelerate Domestic Geothermal Energy
Obama seeks to end Oil & Gas Subsidies while increasing Renewable Energy funding
The Obama administration on Monday asked Congress for a second time to end industry tax breaks for oil and gas companies including: deductions for certain drilling costs, tax credits for low-volume oil and gas wells and a manufacturing tax deduction for oil and gas companies. The changes would take effect on January 1, 2011 and save $36.5 billion over 10 years. Oil and gas companies argued that abolishing the tax breaks would reduce domestic drilling, cost jobs and increase U.S. reliance on foreign energy suppliers. The White House contested that ending the subsidies would not have much of a financial impact on energy companies, as $36.5 billion represents about 1 percent of expected domestic oil and gas revenues over the coming decade.
While the Obama administration is seeking to reduce funding for oil and gas in its current budget, renewable energy has been getting a funding boost. Research and development for solar energy received $302 million, up 22 percent, wind energy received $123 million, up 53 percent and geothermal energy was given $55 million, up 25 percent.
via Reuters
Recommended for Further Reading:
- Oklahoma Senator changes stance on Renewable Energy after receiving Recovery Act Funds for
- U.S to Build 16 Gigawatts of Renewable Energy from Recovery Act Funds
- Obama Unveils "Smart Energy" Plan For Green Energy Jobs
- Geothermal Energy Produces almost 8 GW of Electricity in U.S.
- DOE Announces More Than $200M For Solar, Wind & Water Energy Technologies
- France Invests Billions in Renewable Energy Program
- Google Funds Wind Farms in North Dakota
- Nordic Windpower raises $12M VC Funding for Small 1MW wind turbines
- Higher Energy Efficiency Standards for Refrigerators Proposed by DOE
- GE Invests $117 Million in EDP Renewables’ Oklahoma Wind Farm and Additional $111 Million
- DOE to Award $100M to CleanTech Research
- U.S. President Obama Unveils $2.3B Tax Credit to Boost Jobs in Clean Energy
- FloDesign Wind Turbines based on Jet Engine Technology display 3-4 times Higher Efficiency
- Abengoa and Abound Solar get $2Billion Solar Stimulus Money
- Department of Energy Awards $338 Million to Accelerate Domestic Geothermal Energy
Cleaning up energy subsidies:
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[...] is in response to the Chamber’s lobbying against cap-and-trade and other serious efforts to limit greenhouse emissions, which the Chamber considers “ill-conceived,” and which it has pledged to [...]
[...] Government subsidies are also becoming more difficult to sustain for some countries during the recession. For example, Germany, which represents half of the world’s solar panel market due to its hefty subsidies, just cut its subsidy by 10 percent. And the subsidy is slated to be cut another 15 percent this summer. [...]
[...] Requirements in Response to Senators’ Demands Environment Policies and RegulationsDespite the concerns raised by the Obama administration about the effect of CO2 on global warming, on Monday the Environmental Protection Agency (EPA) [...]
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