Members of Congress this week are working on a deal over a government spending bill. A key item on the table is an end to the ban on oil exports.
As Bloomberg BNA’s Ari Natter reports, Republicans want to end the ban, while some Democrats are looking to make a deal in exchange for their support. Democrats’ priorities include a long-term extension of the wind production tax credit and the solar investment credit.
Some lawmakers also want to see a tax credit for refiners, who oppose lifting the ban. The Energy Information Administration reported an end of the ban would lower refiners’ profits by $22 billion a year in 2025. Sen. Tom Carper (D-Del.) has proposed a tax credit for independent refiners. Another proposal would increase the manufacturing tax credit refiners can collect.
Also this week, at least two hearings are planned off Capitol Hill on the climate deal reached in Paris over the weekend (Bloomberg BNA coverage for subscribers here):
The Henry L. Stimson Center will host a discussion on "The Asia-Pacific Rebalance: The Role of Development in Building a Climate-Resilient Asia,” at 10 a.m. Tuesday, 1211 Connecticut Ave. NW, Washington.
And White House National Security Council Senior Director for Energy and Climate Change Paul Bodnar and WRI President Andrew Steer will speak at the Woodrow Wilson Center at 3 p.m. Wednesday on "Beyond the Paris Climate Talks: What Was Achieved and What Remains to be Done?" It takes place at the Ronald Reagan Building and International Trade Center, 1300 Pennsylvania Ave., NW, Washington.
On the Hill, Sen. James Inhofe (R-Okla.), chairman of the Senate Environment and Public Works Committee and one of the Republican lawmakers who oppose action on climate change, said he’d hold an oversight hearing on the agreement early next year.
OTHER ENERGY AND ENVIRONMENT EVENTS THIS WEEK:
FERC MEETING: The Federal Energy Regulatory Commission holds its December meeting Thursday.
NUCLEAR FUSION: The American Security Project holds a briefing at noon Tuesday on what's next in fusion energy with MIT Professor Dennis Whyte, General Fusion's VP Michael Delage, HyperV Technologies Corp. Chief Scientist and President Douglas Witherspoon and Tri Alpha Energy Senior VP Richard Barth. Location: 385 Russell Senate Office Building.
By Renee Schoof
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