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Governors' Wind Energy Coalition

March 31, 2022

Top Story

Biden announces massive strategic oil reserve release to curb gas prices

By Steven Mufson and Cleve R. Wootson Jr., Washington Post  •    •  Posted 2022-03-31 15:04:27

President Biden on Thursday announced that he will release 1 million barrels a day from the nation’s Strategic Petroleum Reserve to try to offset the loss of Russian crude oil from world markets, starve Russia of revenue and cut the cost American consumers are paying at the pump. The release — the biggest withdrawal in the reserve’s more than 46-year history — would continue for the next six months, administration officials said, an indication that the Biden administration anticipates a prolonged conflict in Ukraine. [ read more … ]

Wind & Solar

More tax credits, please

BY CATHERINE MOREHOUSE, Politico  •    •  Posted 2022-03-31 15:06:16

A coalition of more than 100 manufacturers of clean energy components is urging the president and Congressional leadership to push long-term tax credits through reconciliation to boost transmission, energy storage and green hydrogen. In a letter sent to Biden, Senate Majority Chuck Schumer, House Speaker Nancy Pelosi and two committee chairs on Wednesday, the group argued such tax provisions could provide a much-needed boost to the domestic supply chain — and create more U.S. jobs to boot. [ read more … ]

Climate

Can the world overshoot its climate targets — and then fix it later?

By Emily Pontecorvo, Grist  •    •  Posted 2022-03-31 15:06:38

The topic of overshoot has actually been lingering beneath the surface of public discussion about climate change for years, often implied but rarely mentioned directly. In the broadest sense, overshoot is a future where the world does not cut carbon quickly enough to limit global warming to 1.5 degrees Celsius above pre industrial levels — a limit often described as a threshold of dangerous climate change — but then is able to bring the temperature back down later on. A sort of climate boomerang. [ read more … ]

States

Md. poised to enact sweeping energy, climate plan

By Miranda Willson, E&E News  •    •  Posted 2022-03-31 15:04:51

Maryland is expected to enact new clean energy policies that would require significant reductions in carbon emissions, a move that could shake up the fuel mix in a state that relies on natural gas for more than a third of its power. A supermajority of members in the Maryland House of Delegates voted this week to advance the “Climate Solutions Now Act of 2022,” which calls on the state to reduce its greenhouse gas emissions economywide by 50 percent below 2006 levels by 2031 and to achieve net-zero greenhouse gas emissions by 2045. [ read more … ]

Markets

Dems press case for windfall profit tax on energy companies

By Nick Sobczyk, E&E News  •    •  Posted 2022-03-31 15:05:21

Democrats are ramping up their efforts to tax the profits of energy companies, part of a larger strategy to blame high gas prices on oil companies for alleged gouging after Russia’s invasion of Ukraine. Senate Budget Chair Bernie Sanders (I-Vt.) announced yesterday he would hold a hearing next week on his version of a windfall tax, citing an “unprecedented level of corporate greed.” [ read more … ]

EVs

Biden to invoke Defense Production Act on battery minerals

By Scott Waldman, Jael Holzman, E&E News  •    •  Posted 2022-03-31 15:05:39

President Biden is expected to sign an order as soon as this week invoking the Defense Production Act to ramp up domestic production of the critical minerals needed to make electric vehicle batteries, said a person familiar with the plan. The administration plans to deploy the Cold War-era statute to focus on battery minerals, including lithium, nickel, graphite, cobalt and manganese, said the person, who was not authorized to speak on the record about the discussions. [ read more … ]

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