According to information reported by The Houston Chronicle, clean fossil fuels such as ethanol, hydrogen or biodiesel, could find major investments within the $1 trillion bipartisan infrastructure bill; indeed, currently under consideration in the Senate. Accordingly, these technologies can help the oil and gas sector sustainably; particularly, as the world moves to reduce carbon emissions.
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Cleaner fuels for a cleaner energy future
Consequently, the agreement represents a new step by moderate Republicans and Democrats to find common ground on climate change. Additionally, the bipartisan infrastructure bill comes at a time of increasing uncertainty; specifically, around the future of the oil and natural gas industries.
In this sense, Rich Powell, policy director at the Clear Path Foundation, a conservative think tank advocating for climate action, told media; “In fact, this is technology inclusive. Accordingly, it has something for every option (of clean energy).”
On the same page, Powell noted that fossil fuel companies will have to bring a significant private cost-share. However, he recognized that the bipartisan infrastructure bill is seeing support both from the federal government and senators.
In fact, the more than 2,700-page draft legislation released Sunday includes more than $100 billion in clean energy provisions. Remarkably, it contains conditions above the estimated $90 billion included in the Obama administration’s stimulus legislation; which indeed followed the 2008 financial crisis.
Noteworthy, the bipartisan infrastructure bill’s authors include Senators Joe Manchin, D-W.V., Lisa Murkowski, R-Alaska, Mitt Romney, R-Utah, and Sen. Kristen Sinema, D-Ariz.
More about the Bipartisan Infrastructure bill
The package primarily focuses on rebuilding aging infrastructure like roads and airports. However, it includes $3.5 billion to build direct air capture facilities to capture carbon dioxide from the atmosphere. Similarly, the bipartisan infrastructure bill has $2.5 billion for commercial-scale underground carbon storage sites.
The bipartisan infrastructure bill also calls for $9.5 billion to expand the use of clean hydrogen fuels. Accordingly, it considers four commercial-scale hydrogen projects to be developed around the country.
Worth noting, the projects would make hydrogen from natural gas, capturing and storing the emissions. Also, electrolyzing water, an emissions-free process long used by astronauts traveling through space.
Similarly, the bipartisan infrastructure bill includes $7.5 billion in building charging stations along American roadways; this investment adds billions for electric buses and ferries.
Lastly, Congress is ready to spend plenty on technologies that represent direct competition for the oil industry; for instance, including batteries, wind turbines, solar panels, and electric vehicles.
