IRS frustrating would-be CCS projects that could help ethanol production

February 11, 2020 |

In Washington, the New York Times reports that the IRS is delaying implementation of some of the only climate-friendly legislation to be pushed through during the Trump administration which in turn is frustrating the ethanol industry. The IRS has held up rules about how companies investing in carbon capture could take advantage of a tax credit approved in 2018 and set to be expanded this week, frustrating Occidental’s plans to invest in carbon capture at two ethanol plants. Another project looks to use carbon capture to improve the environmental footprint of ammonia production that would in turn be used for ethanol production that could reduce corn-based ethanol’s carbon intensity to allow it to more easily enter the Californian market.

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Category: Policy

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