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IRA Boosting Energy Projects But Challenges Remain

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The Inflation Reduction Act (IRA) is already making the US more attractive for investments in the energy transition space but the incentives from the IRA alone are not enough to drive continued investment. Carbon capture and sequestration developers, who benefit from an increased tax incentive, are seeing an uptick in interest following passage of the legislation which pledges $369 billion in clean energy spending. Operators’ outlooks for other energy transition fuels, such as hydrogen, have also brightened since the IRA’s passage. Shell USA President Gretchen Watkins called the landmark legislation a “big step forward” for investment in renewables and low-carbon fuels. “We now see a much longer investment horizon that allows, I think, disciplined capital investment to happen over time,” she said at a recent Federal Reserve event in Houston. “So I believe that we're going to see this country is going to have more opportunities to have, frankly, more energy at its disposal and, over time, move toward a lower and low-carbon future.”

Topics:
Hydrogen, Corporate Strategy , Majors, Midstream Companies
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