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.
The proposed mill is projected to be operational by 2029, but company officials acknowledged significant challenges ahead, including the high cost of hydrogen production and uncertainty around future federal tax incentives.
The rules were based on what Zeldin called a “false binary choice” in which America must choose between protecting the environment.
A final investment decision is anticipated in 2025, with operations beginning in 2029.
The proposal states that “emissions from fossil fuel-fired power plants do not contribute significantly to dangerous air pollution.’’ Experts the Associated Press quoted appear to believe this states "emissions have no impact on climate."
Louisiana Economic Development advances a broader strategy to reform state tax incentives, invest in development-ready sites, and attract high-quality jobs.
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.”
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.
China has increased its total coal-fired generation capacity by 233 gigawatts, whereas the U.S. has retired more than 95 coal-derived gigawatts in production.
Analysts say that if the rule is implemented, more than 5 million people could experience blackouts, some lasting for 41 hours.