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Ending US coal use may delay technology

Ending US coal use may delay technology

Coal-fired power plants in the United States that consistently eliminate their carbon footprint will earn $85 for every ton of carbon dioxide recorded in taxes. President Joe Biden’s new legislation says so. Thus, a single power plant could save up to six billion dollars, up to 132.5 billion crowns in fees over the next twelve years.

The adjustment is part of Biden’s plan to build back better.Let’s build it better again – note. red.), under which the government intends to invest $555 billion in climate protection. The increase in the tax credit was supported by a group of energy suppliers led by DTE Energy, or Peabody Energy.

The world’s largest polluters and their emissions targets:

The world’s largest polluters and their emissions targets

According to Bloomberg, the new approach to coal can be seen as a relief to more medieval members of the Democratic Party, such as West Virginia Senator Joe Manchin, whose state relies on coal mining. However, environmentalists are not enthusiastic.

“This measure fits the lifeblood of uneconomic coal-fired power plants and delays conversion from fossil fuels and reduces emissions in the energy sector,” the Sierra Club’s environmental non-profit slams. It estimates that about a quarter of US coal miners may delay shutdowns due to the new rule.

Activists also point out that it takes years to install a carbon capture system, while power plants that are just running it should also qualify for the tax credit. So the Sierra Club is concerned that companies will abuse this and get a tax deduction, even though the technology won’t work until 2032.

“This is a complete disaster and incredibly regressive approach to climate policy,” said Lucas Ross, director of programs at Friends of the Earth. “Any regulation that delays the termination of coal will increase mining and harm first-line communities,” he added.

But not everyone agrees with the criticism. “Tax credits are important for hard-to-decarbonize sectors, such as refineries, cement plants, and steel mills. Unless Congress raises these decarbonizations, no polluters will voluntarily capture emissions,” said John Thompson of the Boston Clean Air Task Force.

Carbon capture and storage is expected to depend on expert judgment in the coming decades It has become a very profitable business, which could bring in trillions of dollars for businesses. Even giants like ExxonMobil plan to get rich from these technologies. However, environmentalists find this method controversial because it discourages companies from investing in renewable energy sources.

The United States is the second largest polluter on the planet after China. They make up 12.6 percent of all greenhouse gas emissions, according to the site faktaoklimatu.cz.

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