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Companies compete for billions of dollars in hydrogen tax breaks

Companies compete for billions of dollars in hydrogen tax breaks

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WASHINGTON — Big energy producers are vying for billions of dollars in subsidies from last year’s climate law, a fight that pits the Biden administration’s economic growth goals against its efforts to reduce gas emissions Greenhouse effect.

The battle is over subsidies to produce clean hydrogen, a potential alternative to oil and natural gas in industries such as steel and trucking, where renewable energy and batteries alone are not enough. The administration is considering how to strictly define which energy sources can be used to produce clean hydrogen while still being eligible for some of the Inflation Reduction Act’s most valuable tax credits.

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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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