The group chose to protest on Earth Day and called Biden’s current climate plan “bullsh**.”
Moreover, the protestors urged Biden to declare an immediate “climate emergency,” saying that “time is running out.”
As reported, Biden announced a goal on Thursday to cut nearly half of U.S. emissions by 2030 and achieve net-zero emissions by 2050.
“These steps will set America on a path of a net-zero emissions economy by no later than 2050,” Biden told a virtual climate summit, attended by 40 leaders from around the world.
“Scientists tell us that this is the decisive decade, this is the decade we must make decisions that will avoid the worst consequences of a climate crisis,” Biden said.
“This is a moral imperative. An economic imperative. A moment of peril, but also a moment of extraordinary possibilities,” the president added.
You can follow Jennie Taer on Twitter @JennieSTaer
White House Strangles Hydrogen Industry Growth with Overreaching Tax Credit Restrictions
In a move that could stifle innovation and economic growth, the White House, Treasury Department, and Department of Energy jointly released guidance on Friday morning, imposing stringent restrictions on hydrogen power development eligible for federal tax credits. The proposed guidance, tied to the 2022 Inflation Reduction Act’s highest production credit of $3 per kilogram of hydrogen, is seen by critics as an attempt to align with green energy standards at the expense of economic considerations.
According to reports from Fox News, opposition to the restrictions comes from business and clean power industry groups, arguing that the measures could deter investment, increase hydrogen costs, and unfairly discriminate against existing low-carbon power sources. Critics view the move as a departure from the market-driven approach that encourages growth and innovation.
Moreover, despite the administration’s claims that the hydrogen tax credit will foster a cleaner industry, skeptics point to potential economic ramifications. John Podesta, President Biden’s clean energy czar, and Energy Secretary Jennifer Granholm have lauded the move as a step towards global clean energy leadership, but critics argue that such measures risk stifling job creation and economic opportunity.
The proposed regulations, with a 10-year availability for tax credits ranging from $0.60 to $3 per kilogram, raise concerns about government overreach in dictating industry standards. Critics argue that the administration’s insistence on strict regulations could hinder the hydrogen industry’s ability to provide meaningful alternatives for hard-to-decarbonize sectors and reach competitive market prices.
As opposition mounts from industry groups and Senate Democrats, who advocate for a more gradual approach, the clash over hydrogen tax credits underscores the ongoing struggle to balance environmental objectives with economic considerations in the clean energy sector.
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