Administration’s effort to limit access to hydrogen tax credits will hurt energy production

Everyone wants to live in a clean and healthy environment. As stewards of our beautiful planet, we should all want to leave it better than we found it. Thanks to our talented innovators, the United States has the ability to incorporate new energy production into traditional energy sources through modernization and technology. This allows us to incorporate all the energy solutions mentioned above.

Hydrogen is often touted as the future of clean, affordable energy. There are multiple ways to develop it, but the most effective way is through the use of carbon capture and a process called storage. The process takes coal and natural gas emissions and converts them into hydrogen. At the beginning of 2022, hydrogen was almost entirely sourced from fossil fuels. Over 70% was produced from natural gas and 27% from coal. Last year, coal and natural gas production in my home state of West Virginia increased by 5.7 percent and 6 percent, respectively. Harnessing natural gas and coal emissions to produce hydrogen energy is a perfect example of a comprehensive energy solution.

enter 45V hydrogen production tax credit, which was passed by Congress and signed into law to encourage hydrogen production. Tax credits are complex but important to the success of American businesses. Unfortunately, in the case of the 45V tax credit, the Biden administration is doing its best and completely ignoring Congress’ intent to push through an unachievable Green New Deal. While Congress makes laws, the government has the power to interpret them. Apparently, the Biden administration is making life difficult for everyone because they are afraid of offending someone. Time and time again, this administration has brazenly ignored the intent of Congress and embarked on a rulemaking process based on liberal climate policy. Members on both sides of the aisle have fought against usurping regimes. The Treasury Department is currently considering regulations that would prevent coal and natural gas plants from taking advantage of the 45V tax credit. Instead, controlled by the Ministry of Finance This is to ensure that only newly constructed solar or wind powered hydrogen production will benefit from this tax credit. This is the epitome of virtue signaling. As members of the Ways and Means Committee, it is our job to oversee the IRS and the Treasury Department, and I take that very seriously.

Joe Biden is picking winners and losers in the name of climate change. This administration is hell-bent on making coal and natural gas obsolete. They want to include them as part of the solution and curtail all energy production that is not considered renewable instead of empowering America’s natural resources. It’s wasteful and harmful to rural communities across America. West Virginia, for example, has the potential to convert large amounts of fossil fuel emissions into hydrogen, but only if the Biden administration stops strong-arming energy production. West Virginia was on track to add thousands of jobs to unlock and sustain hydrogen production, but instead it will once again be pushed to the wayside by Washington Democrats.

Treasury Secretary Janet Yellen would rather let go of America’s energy jobs than stand up to climate change activists who have no sense of real-world economics. It would spell economic disaster for our energy community and further reduce the reliability of the nation’s power grid.

Coal and natural gas have been the foundation of energy production for generations, and I’m committed to ensuring that they remain that way. Expanding carbon capture utilization and storage tax credits is another critical step to ensuring economic and energy success. Turning methane emissions from mines into an energy source would allow the United States to maintain its energy dominance and independence while supporting the jobs that support rural America.my Methane Reduction and Economic Growth Act This will allow mine methane emissions from active and abandoned mines to be captured and reused as an energy resource across the United States. It can keep our mines open long into the future, and when combined with hydrogen powered by coal or natural gas, it will deliver tangible wins for energy security, clean air, and the American economy.

The war over traditional energy has been going on since President Obama was in the White House. I am committed to bringing jobs back to communities destroyed by climate change activists and bad policy makers. They speak out on both sides by supporting a halt to American energy production while proposing to buy the same energy from enemy countries that pollute more of the environment and practice bad practices. . Thanks to our brilliant innovations and technological advances, we can unleash America’s energy to unprecedented levels. I will fight tooth and nail to keep our God-given natural resources at the forefront of America’s energy production while promoting comprehensive energy solutions.

Carol D. Miller represents West Virginia’s 1st District and is a member of the Ways and Means Committee.