+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
By Ari Natter
March 24 --Legislation unveiled by Sen. Heidi Heitkamp (D-N.D.) would increase tax credits for carbon capture and sequestration and direct the Energy Department to set aside $2 billion in existing loan guarantees for coal projects, among other incentives for CCS technologies.
The legislation, the Advanced Clean Coal Technology Investment in Our Nation Act, aims to create a “viable path forward for the source of energy that provides the United States with almost 40 percent of its electricity,” Heitkamp's office said in a statement.
The legislation also would aim to develop large-scale carbon storage programs to support the commercial-scale application of enhanced oil recovery and geological storage of carbon dioxide, revamp existing CCS and advanced coal research and development programs, and require reports to Congress from the DOE on the economic and technical status of CCS projects, according to a bill summary.
“Unlike recent proposals by the Obama Administration, Heitkamp's bill helps make it affordable for coal plants to lower their carbon pollution through the use of advanced clean coal technologies,” the statement said. “This would help to provide a path forward for coal-fired power well into the future.”
Under the bill, 25 percent of an existing $8 billion loan guarantee solicitation for advanced fossil energy projects would be dedicated specifically to coal projects, the summary said.
The advanced fossil energy loan guarantee solicitation, announced in July, is for fossil energy projects that avoid, reduce, or sequester air pollutants or greenhouse gas emissions .
Heitkamp's bill also would allow projects that receive other federal assistance to be eligible for Energy Department loan guarantees and would streamline the process for companies to receive federal funding, according to the summary.
“I'm offering a pragmatic solution--not just talk--to put coal on a sustainable path forward,” Heitkamp said in a statement. “It's past time that our country has a true all-of-the-above energy strategy, and I'll push my colleagues and the Administration to support this bill to help us accomplish that goal.”
The bill, to be formally introduced March 25, comes as the Environmental Protection Agency moves forward with new carbon dioxide emissions limits for both new and existing fossil fuel-fired power plants, the cornerstone of President Barack Obama's Climate Action Plan, announced in June.
To contact the reporter on this story: Ari Natter at firstname.lastname@example.org
To contact the editor responsible for this story: Larry Pearl at email@example.com
A summary of the bill is available at http://www.heitkamp.senate.gov/public/_cache/files/de7bf292-1fcb-4639-b592-6670b57d824b/one-pager.pdf.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).