Sen. Chuck Schumer (D-N.Y.) paired the Oscars with a beer Sunday night, tweeting that it was “plant-based.” The tweet has confused a lot of people. So, let’s break it down.
It all started over the weekend on Fox News’ Kudlow. Host Larry Kudlow reacted to President Joe Biden announcing on Earth Day that he is committed to cutting carbon emissions by 50%. But, according to a study coming out of the University of Michigan, it will cost a great deal to reach these targets proposed by the Biden Green Deal. For instance, Americans would have to cut down immensely on eating animal products. Kudlow poked fun at the idea of middle America giving up dairy, eggs, meat and cheese.
“No burgers on July 4th. No steaks on the barbie. I’m sure middle America is going to love that,” Kudlow joked on his show.
But then the joke got carried away. As Kudlow tried to paint a picture of a completely plant-based barbecue, he made a mistake.
“So get ready,” the host said on his Friday show. “You can throw back a plant-based beer with your grilled brussel sprouts and wave your American flag.” Apparently, he’d forgotten that beer already comes from a plant: barley.
Sen. Schumer took the opportunity to poke some fun with Kudlow, thanking Joe Biden for a plant-based beer. Really, it was Kudlow himself who coined the term. But now, Schumer is taking the heat for appearing to not know that all beer is plant-based. Now you’re in on the joke.
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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