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Governors' Wind Energy Coalition

December 6, 2021

Top Story

Big week for reconciliation as Dems look to finish changes

By Manuel Quiñones, E&E News  •    •  Posted 2021-12-06 15:02:05

Senate Democrats are looking to finish changes to the budget reconciliation bill in the coming days before moving it to the floor as soon as next week, if Majority Leader Chuck Schumer gets his way. But the New York Democrat will have to deal with persistent concerns from Energy and Natural Resources Chair Joe Manchin (D-W.Va.) — including on climate portions of the $1.7 trillion bill. [ read more … ]

Wind Energy

Groups join to support New Jersey offshore wind power

By Wayne Parry, Associated Press  •    •  Posted 2021-12-06 15:00:23

The campaign may begin outreach efforts in Ocean City, where much of the city government and a vocal group of residents have opposed offshore wind projects. The city’s mayor, Jay Gillian, recently said the developer Orsted should be required to pay the city an annual “impact fee,” since cables from the project are proposed to come ashore in Ocean City. He also wants the turbines moved far enough offshore that they are not visible from the beach. [ read more … ]

Reconciliation Bill

Dems’ spending bill taps small banks for climate justice

By Avery Ellfeldt, E&E News  •    •  Posted 2021-12-06 15:01:30

President Biden has promised to steer money toward front-line communities as the United States makes historic investments in climate resilience and mitigation.
But the process of actually getting the money to these families and small businesses presents its own challenges. A $29 billion provision tucked inside the massive reconciliation bill passed by the House in November aims to help Biden meet that goal. It would do so by establishing a “Greenhouse Gas Reduction Fund” that for the first time would infuse green investments into a vast network of local financiers — some of which have decades long connections with the very communities that are already, and disproportionately, feeling the effects of rising temperatures. [ read more … ]

Markets

Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose

By Oliver Milman, The Guardian  •    •  Posted 2021-12-06 15:00:42

The largest oil and gas companies made a combined $174bn in profits in the first nine months of the year as gasoline prices climbed in the US, according to a new report. The bumper profit totals, provided exclusively to the Guardian, show that in the third quarter of 2021 alone, 24 top oil and gas companies made more than $74bn in net income. From January to September, the net income of the group, which includes Exxon, Chevron, Shell and BP, was $174bn. [ read more … ]

Climate

Study sheds light on Antarctic Ocean climate riddle

By Chelsea Harvey, E&E News  •    •  Posted 2021-12-06 15:01:09

The vast, turbulent Southern Ocean circling Antarctica has an unexpected claim to fame: It’s one of the planet’s most important natural climate tools. Like all the world’s oceans, it draws carbon dioxide out of the atmosphere and into the water. But the Southern Ocean is a special case; it stores up more carbon than any other body of water on Earth. That could change, though. [ read more … ]

EVs

Build Back Better Could Reposition U.S. as Global EV Powerhouse

By David Welch, Bloomberg  •    •  Posted 2021-12-06 15:02:17

The Act would give buyers a $7,500 tax credit if the EV is built in the U.S. A consumer would get another $4,500 if the car is assembled by union workers and $500 more if the battery is built in the U.S. The bill has rankled neighbors Mexico and Canada. Canadian Prime Minister Justin Trudeau has said it would give automakers incentive to build in the U.S. and not in the auto plants in southern Ontario. Senator Joe Manchin of West Virginia doesn’t like that the bill would give the United Auto Workers union a big advantage. Tipping the scales in that way, he said while visiting a Toyota engine and transmission plant in the state, is “wrong” and “not who we are as a country.” [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.