NTH Consultants, Ltd.’s Post

A new report from @empowerllc clearly lays out the way #carboncapture tax credits rig the system in favor of the #BigOil and gas industry to the tune of billions of our taxpayer dollars and, if left unchecked, will make Texas communities dependent on the #fossilfuel industry for decades to come. Here’s what you need to know:  #CCS projects depend on tax credits and subsidies. Otherwise, the private sector deems most of them unprofitable or unfeasible. Through land leases and other public instruments, Texas schools and governments are being financed by CCS tax credits. This may create financial dependence on the fossil fuel industry. Texas CCS projects could receive a minimum of $3.2 billion in annual tax credits, and up to a max of $33 billion per year. CCS companies can withhold most critical information, limiting the amount of information available to the public. Companies using CCS create layers of subsidiaries to isolate CCS-related risk. As a result, the government and taxpayers bear the financial burden. It comes down to this: CCS is a waste of taxpayer money that puts our environment, our health and safety, and our schools at risk. Read more about the report’s troubling findings here: https://lnkd.in/ewbHMahV

A new report from @empowerllc clearly lays out the way #carboncapture tax credits rig the system in favor of the #BigOil and gas industry to the tune of billions of our taxpayer dollars and, if left unchecked, will make Texas communities dependent on the #fossilfuel industry for decades to come. Here’s what you need to know:  #CCS projects depend on tax credits and subsidies. Otherwise, the private sector deems most of them unprofitable or unfeasible. Through land leases and other public instruments, Texas schools and governments are being financed by CCS tax credits. This may create financial dependence on the fossil fuel industry. Texas CCS projects could receive a minimum of $3.2 billion in annual tax credits, and up to a max of $33 billion per year. CCS companies can withhold most critical information, limiting the amount of information available to the public. Companies using CCS create layers of subsidiaries to isolate CCS-related risk. As a result, the government and taxpayers bear the financial burden. It comes down to this: CCS is a waste of taxpayer money that puts our environment, our health and safety, and our schools at risk. Read more about the report’s troubling findings here: https://lnkd.in/gn8wBCpc

A new report from @empowerllc clearly lays out the way #carboncapture tax credits rig the system in favor of the #BigOil and gas industry to the tune of billions of our taxpayer dollars and, if left unchecked, will make Texas communities dependent on the #fossilfuel industry for decades to come. Here’s what you need to know: #CCS projects depend on tax credits and subsidies. Otherwise, the private sector deems most of them unprofitable or unfeasible. Through land leases and other public instruments, Texas schools and governments are being financed by CCS tax credits. This may create financial dependence on the fossil fuel industry. Texas CCS projects could receive a minimum of $3.2 billion in annual tax credits, and up to a max of $33 billion per year. CCS companies can withhold most critical information, limiting the amount of information available to the public. Companies using CCS create layers of subsidiaries to isolate CCS-related risk. As a result, the government and taxpayers bear the financial burden. It comes down to this: CCS is a waste of taxpayer money that puts our environment, our health and safety, and our schools at risk. Read more about the report’s troubling findings here: https://lnkd.in/gn8wBCpc

A new report from Empower, LLC clearly lays out the way #carboncapture tax credits rig the system in favor of the #BigOil and gas industry to the tune of billions of our taxpayer dollars and, if left unchecked, will make Texas communities dependent on the #fossilfuel industry for decades to come. Here’s what you need to know: - #CCS projects depend on tax credits and subsidies. Otherwise, the private sector deems most of them unprofitable or unfeasible. - Through land leases and other public instruments, Texas schools and governments are being financed by CCS tax credits. This may create financial dependence on the fossil fuel industry. - Texas CCS projects could receive a minimum of $3.2 billion in annual tax credits, and up to a max of $33 billion per year. - CCS companies can withhold most critical information, limiting the amount of information available to the public. - Companies using CCS create layers of subsidiaries to isolate CCS-related risk. As a result, the government and taxpayers bear the financial burden. It comes down to this: CCS is a waste of taxpayer money that puts our environment, our health and safety, and our schools at risk. Read more about the report’s troubling findings here: https://lnkd.in/gn8wBCpc

Empower, LLC clearly lays out the way #carboncapture tax credits rig the system in favor of #BigOil to the tune of billions of US taxpayer dollars. If left unchecked, #CCS will ensure Texas communities are dependent on the #fossilfuel industry for decades to come. 🛢 #CCS projects depend on **massive** federal tax credits and subsidies. Without subsidies, the private sector deems most of them unprofitable or infeasible. 🛢 Through land leases and other public instruments, Texas schools and governments are being financed by CCS tax credits, creating financial dependence on the #fossilfuel industry. 🛢 At minimum, Texas CCS projects are slated to receive $3.2 billion in federal tax subsidies. At maximum, federal taxpayers can subsidize the Texas fossil fuel industry to the tune of *$33 billion per year*. 🛢 CCS companies are allowed to limit the disclosure critical #safety and financial information despite being the beneficiaries of huge #public investment. 🛢 Companies using CCS create layers of subsidiaries to isolate substantial CCS-related risk: we the taxpayers bear the financial burden. #CO2 #CCUS #ClimateChange ExxonMobil Low Carbon Solutions Shell Low Carbon Solutions Oxy

🌍 Clean Energy Producers: Get Ready for New Regulations! 🌱🔋 Attention all clean energy producers! The Treasury and IRS have just released guidance on upcoming regulations related to domestic content requirements. This is a fantastic opportunity for you to stay ahead of the game and ensure compliance with these new rules. 💡📝 The guidance provided by the Treasury and IRS aims to clarify the requirements for clean energy producers, supporting the development of a sustainable and environmentally friendly future. By adhering to these regulations, you not only contribute to a cleaner planet but also position yourself as a leader in the industry. 🌎💪 📌 Key Takeaways: 1️⃣ The guidance offers insights into the domestic content requirements that clean energy producers must fulfill. 2️⃣ It provides clarity on how to calculate and demonstrate compliance with these requirements. 3️⃣ The regulations support the growth of clean energy production and help create jobs in the industry. 4️⃣ By meeting these requirements, you can enhance your reputation and attract investors who value environmental sustainability. For more information, check out the official IRS newsroom article here: https://lnkd.in/gkWgSCwU Let's embrace this opportunity to make a positive impact on our planet and propel the clean energy sector forward! Together, we can build a greener and more prosperous future. 🌿💚 #CleanEnergy #Sustainability #Regulations #IRS #Treasury #CleanEnergyProduction #EnvironmentalImpact #InvestmentOpportunity

On July 24, 2024, the IRS issued Notice 2024-60, which sets forth the procedures for taxpayers to follow when claiming Section 45Q credits based on the “utilization” of carbon oxide. Taxpayers claiming credits based on utilization must demonstrate the metric tons of qualified carbon oxide that they utilize based on analysis of the lifecycle greenhouse gas emissions. The Notice identifies the information to be included and procedures for taxpayers to follow when submitting a greenhouse gas lifecycle analysis (LCA) report in support of Section 45Q Credits based on utilization of carbon oxide. At the same time, the Department of Energy (DOE) released its 45Q LCA Guidance Toolkit with details and a template for LCA reports. This new guidance will be critical for taxpayers seeking to claim Section 45Q credits for utilization of qualified carbon oxide (which is typically CO2) in producing marketable products. #Energy #Tax https://lnkd.in/ev7bxYZK

Fascinating example of potential domino effect between two of the larger, pending rules in the #energy industry in 2024 - tax credits for #hydrogen and ambitious #epa power plant rule. https://lnkd.in/eNbGzzDg

DECARBONISE NOW RESPONSE TO BELGIUM’S UNDERMINING OF EU ENERGY TAX DIRECTIVE Responding to leaked reports that Belgium’s EU Council Presidency has proposed a new compromise text that seeks to undermine the proposal of the Commission for a revised EU Energy Taxation Directive (ETD), Flaminia Tacconi, Senior Lawyer at ClientEarth, said: “While the EU Scientific Advisory Board on Climate Change calls for a rapid adoption of the Energy Taxation Directive as the last piece of the Fit for 55 puzzle, EU Council Member States appear to be playing politics when they should be making crucial decisions about our collective future. https://lnkd.in/eKJYwxzu

The Inflation Reduction Act (IRA) includes the largest clean energy incentive effort in U.S. history, leading to more than $361 billion in investments since it was signed into law two years ago. In an article with Trellis Group, Baker Tilly’s Joel Laubenstein shares considerations for what organizations can do now to take full advantage of these clean energy tax credits, including how they can effectively position their projects to meet the domestic content bonus. Read more: https://bit.ly/3SRgfR8 #IRA #DomesticContent #CleanEnergy