Republicans also plan to focus on hydrogen hubs and carbon capture, which many have lined up behind already. House Democratic leadership, meanwhile, is more skeptical of the hydrogen push.
Gov. Kevin Stitt signed bill that clears the way for businesses to apply for carbon sequestration permits.
Upton and the committee are concerned that while the state benefits from increased tax revenues and reduced emissions intensity, local governments face limited property tax revenues associated with sequestration sites.
In September, the U.S. EPA announced a proposed enforcement against ADM for alleged violations of the Safe Drinking Water Act after a fluid leak.
President Trump's One Big Beautiful Bill Act, signed into law in July, made l changes to tax credits that clean energy companies use.
The aim of the LCFS is to reduce carbon emissions from transportation fuels in California, but there have been protests over the past few months about the potential environmental and fiscal impacts of the amendments.
Among its most significant energy-related provisions, the legislation mandates the resumption of quarterly onshore oil and gas lease sales under the Mineral Leasing Act, effectively repealing restrictions introduced by the Inflation Reduction Act.
A final investment decision is anticipated in 2025, with operations beginning in 2029.
Using renewable energy or fossil fuels, the seven hubs scattered across the nation plan to produce hydrogen from water through an electrolysis process, then store the hydrogen until it’s used for power generation, fuel, and other industrial processes.
In its filing to the Iowa Utilities Commission, the company said “a number of factors have continued to delay Wolf’s ability to proceed with the project and Wolf has decided to cease pursuit of the required regulatory approvals at this time.”