The Biden administration enacted new rules this week to support clean energy companies, with the White House arguing that such investments will help communities with ties to the energy sector that predate the environmental movement.
The rules set out guidelines for the subsidies that companies can qualify for under the Anti-Inflation Act, subject to conditions such as paying prevailing wages.
Qualifying projects that include nuclear, solar, wind and other green energy sources could be five times more likely to qualify for tax credits under the Inflation Control Act.
“America has unleashed a boom in clean energy manufacturing and deployment, attracting hundreds of billions of dollars of private sector investment and creating more than 270,000 new good-paying union clean energy jobs,” the White House said in a statement about the announcement.
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“The final rule provides certainty for clean energy developers and workers to realize the benefits of President Biden’s historic investments in the clean energy economy,” the statement continued.
“These investments are flowing to the places President Biden has promised not to leave behind, providing jobs and economic opportunity to workers, especially those without college degrees, including historic energy communities that have powered this country for generations and economically distressed communities.”
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“We’re not going to let the climate crisis continue,” said John Podesta, a longtime Democratic official who is advising Biden on climate policy. It said in a statement The finalized rule is meant to reassure workers that “clean energy jobs will be good jobs,” as green energy has lagged far behind the fossil fuel sector in this regard.
Acting Labor Secretary Julie Su also praised the new rules, predicting in a statement that they will bring “real, tangible benefits to workers in communities across the country.”
Responding to the announcement, a spokesperson for the American Petroleum Institute said the oil and gas industry remains the largest investor in the U.S. economy while supporting a lower carbon-emitting American future.
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Meanwhile, the leader of a fossil fuel industry group told Fox News Digital that the administration should not choose sides when it comes to supporting American energy jobs.
“Instead of funneling taxpayer money to inflate the value of his favorite jobs, the president should end his regulatory assault on America’s oil, gas and petrochemical workers and the future of the millions of Americans employed in these industries,” said Chet Thompson, president of the American Fuel and Petrochemical Manufacturers Association.
Fox News Digital also reached out to several prominent Democratic lawmakers involved in energy policymaking but did not receive a response.
