Latest news with #EnergyActof2020
Yahoo
6 days ago
- Business
- Yahoo
Griffith says metallurgical coal reclassification will help Southwest Virginia
bluefield – The Trump administration's reclassification of metallurgical coal as a critical material in the production of steel will provide a boost to coal-producing communities in Virginia and elsewhere, according to U.S. Rep. Morgan Griffith, R-Va. Griffith, who represents Southwest Virginia's Ninth Congressional District in the U.S. House of Representatives, said the reclassification of metallurgical coal advances the fossil fuel as an important contributor to America's energy, economic and manufacturing sectors. Metallurgical coal is a critical component in the steel-making process. Griffith, who also serves as the co-chair of the Congressional Coal Caucus in the U.S. House, said 80% of all coal mined in Virginia constitutes metallurgical coal, almost all of which comes from the Southwest Virginia region. U.S. Department of Energy Secretary Chris Wright announced last week that metallurgical coal was being designated as a critical material in the steel making process by the Trump administration under the Energy Act of 2020, and in accordance with President Trump's executive order 'Reinvigorating America's Beautiful Clean Coal Industry.' 'I am excited by this announcement from the Department of Energy,' Griffith said. 'Metallurgical coal is a lifeblood for coal and steel communities across the country, including Virginia's Ninth District.' According to a press release from the U.S. Department of Energy, metallurgical coal, a key input for steel production, meets the statutory definition of a critical material. A robust steel industry is fundamental to U.S. manufacturing, infrastructure development, and economic resilience, the DOE statement said, adding that steel and the materials that enable steel production is essential to energy technologies, transportation and defense systems. Trump hosted an event at the White House last month, which Griffith attended, where a number of executive orders aimed at boosting the American coal industry were signed into law. In other news, Griffith also is the latest Republican lawmaker to defend the work requirement for Medicaid in the so-called 'Big, Beautiful Bill' passed by the U.S. House last month. But Griffith, just like other Republican lawmakers, also is clarifying that the work requirement is only for abled-bodied adults. In his weekly media report, Griffith said the traditional Medicaid population consists of individuals with disabilities, pregnant mothers, children and seniors. He said the work requirements in the reconciliation budget bill do not apply to this traditional Medicaid population. 'Able-bodied people aged 19-64 who do not have a young child, a disabled person or an elderly relative in need of care living in the home are the ones affected,' Griffith said. 'The bill requires these able-bodied adults on Medicaid expansion to be engaged in their community for 80 hours a month. With 4.33 weeks in a month, that means an average of 18.47 hours a week. These requirements promote community engagement. Community engagement can be community service, pursuing educational programs, participating in a rehabilitation program or a job.' By working to improve their communities and their own lives, Griffith said some of these individuals will be lifted out of poverty, isolation and in many cases, depression. Contact Charles Owens at cowens@
The Herald Scotland
03-05-2025
- Business
- The Herald Scotland
Why Greenland's mineral resources are critical to Trump administration
While the island's role in the U.S.'s national and international security remains important, its vast mineral wealth - resources critical to modern industries where China holds near-monopoly power - has become a key driver of U.S. interest. In April, Trump signed two executive orders aimed at securing critical minerals: one investigating the need for tariffs on mineral imports and another accelerating offshore mining. The island in the Arctic, which is an autonomous territory of Denmark, has been of interest to Trump before. In 2019, during Trump's first term as president, he expressed interest in buying Greenland. What makes Greenland's minerals significant? Though ice covers about 80% of the island, its ice-free zone encompasses about 250,000 square miles and hosts many mineral deposits, including over 30 critical raw minerals, according to a 2023 report from the Geological Survey of Denmark and Greenland. Some of the most notable include graphite, copper, nickel, zinc, tungsten and lithium - essential industrial minerals for making modern technologies. "It's a treasure," Anne Merrild, a professor and head of the Sustainability and Planning Department at Denmark's Aalborg University, described the island she grew up on. Besides the security issue and potential for Greenland to become a transit point for trade and military interactions, Merrild points to its rich mineral resources as a major reason why Trump is so interested in the island. "I don't expect it to be the need for minerals that drives this interest, but rather the opportunity to control who else has access to the resources," Merrild said. While the United States was once a leading mineral supplier, China now dominates the global market. By controlling access to the potential mineral resources in Greenland, the Trump administration sought to prevent its geopolitical rivals, like China, from tightening its grip on global supply chains. What are critical minerals? The Energy Act of 2020 defines a "critical mineral" as a non-fuel mineral essential to U.S. economic or national security, with a supply chain susceptible to disruption. These minerals are vital for manufacturing products, renewable energy development and infrastructure. They are key components for producing everything from smartphones, computers, and electric vehicle batteries to wind turbines, solar panels, and advanced military systems. The United States Geological Survey published a list of 50 critical minerals in 2022. In an executive order published April 15, the White House added uranium to the list of critical minerals. Though not formally designated critical, the White House prioritized offshore mining of copper, potash and gold in an April 24 executive order. From mining to processing, China dominates today's global critical mineral market. Based on a report from the USGS published earlier this year, China was the top producer of 30 critical minerals in 2024, and the U.S. relies heavily on mineral imports from China and Canada. What's the status of mining in Greenland right now? Merrild said there's "almost no mining activity" in Greenland for critical minerals right now due to challenges like harsh weather, limited workforce and high costs of transportation and infrastructure, making it "really an untapped resource." Tapping into Greenland's rich resources would require big companies with the financial capacity to invest in the initial exploration phase. "If they do so," Merrild said. "I think it could contribute significantly to the Greenlandic economy, and it could be really good for developing the infrastructure around the mines." But Merrild emphasizes the importance of development with "care" as mining activities could "potentially cause significant negative impact" to the people and the environment. "It would be really sad if Greenland was sacrificed for the sake of its mineral resources to other parts of the world," Merrild said. Read more: Why Trump wants Greenland: Military security, rare minerals, trade routes, for starters What do Greenlanders think? Greenland is about three times the size of Texas but has a population of just 56,000 - about the same as Carson City, Nevada. Most of its residents don't want their land to be a part of the United States, according to a poll in January. Eighty-five percent of Greenlanders rejected becoming Americans, while 6% said yes. The rest were undecided. Merrild, whose parents and siblings are living in Greenland, expressed concerns about an unknown political issue. Merrild said her parents are considering moving to Denmark because "they're afraid of what will happen if the United States takes over Greenland, if they will have the same rights, and so on."
Yahoo
17-04-2025
- Business
- Yahoo
Absolute Climate Announces Advisory Board and Key Hire to Advance Independent Standard for Carbon Removal
Additions bring policy, science, and market expertise to support the development of clear and credible carbon removal standards SAN FRANCISCO, April 17, 2025 (GLOBE NEWSWIRE) -- Absolute Climate, the company driving the first industry-wide carbon removal standard, today announced the formation of an advisory board along with a key addition to its growing team. These additions bring deep expertise across regulatory policy, carbon market strategy, and climate innovation, which will guide Absolute Climate as it establishes a trusted, industry-wide standard for carbon removal. The newly established advisory board brings together some of the most influential leaders in the climate space. This team will help guide Absolute Climate in setting the benchmark for transparency, consistency, and trust in carbon removal: Giana Amador, Executive Director at the Carbon Removal Alliance (CRA), a leading organization advocating for scalable carbon removal technologies. As co-founder of Carbon180, she helped secure funding for Direct Air Capture (DAC) hubs and established the first carbon removal research program in the Energy Act of 2020. Giana has testified before Congress and advised presidential campaigns, advancing the recognition of carbon removal in climate policy. Erin Burns, Executive Director at Carbon180, a pioneer in advancing policies and technologies for large-scale carbon removal. She leads efforts to scale equitable and accountable carbon removal solutions. With a background in energy, labor, and coal worker transition issues, Erin brings deep experience in policy and advocacy. In addition to forming its advisory board, Absolute Climate has brought on Adam Ward as Certification Lead. Adam is a leading expert in carbon removal, with specialized experience in DAC and Biogenic Carbon Capture and Storage (BiCRS). He previously served as a CDR scientist at Isometric, developing carbon removal credit protocols. In his new role, he will spearhead the expansion of the Absolute Carbon Standard (ACS) into additional carbon removal pathways and lead certification efforts that support broader adoption and help scale carbon removal solutions with rigor and credibility. 'Bringing on this advisory board and expanding our team marks an important step in our work to build a more transparent and accountable carbon removal market,' said Peter Minor, CEO and co-founder of Absolute Climate. 'We're not just setting a standard—we're shaping how the industry defines quality and trust. The collective expertise of these leaders will guide us as we scale the Absolute Carbon Standard and support the growth of a market grounded in science, confidence, and meaningful climate impact.' These additions come on the heels of a partnership announcement with Vesta, where the two companies will collaborate to develop a first-of-its-kind methodology for Vesta's marine carbon capture projects. This marks an expansion of the Absolute Carbon Standard into marine-based carbon removal pathways, supporting Absolute Climate's mission to promote transparency and trust across the industry. About Absolute ClimateAbsolute Climate is accelerating market adoption of carbon removal through the first universal standard that assesses and verifies carbon credits independent of registries. The Absolute Carbon Standard enables registries to independently apply consistent, science-based evaluations across all carbon removal pathways and issue credits that reflect true carbon impact. By separating the roles of standard-setting and credit issuance, Absolute Climate eliminates conflicts of interest to ensure that credit quality aligns with genuine climate outcomes rather than market pressures. Founded by experts in measurement, verification, and reporting—Peter Minor and Greg Becker—Absolute Climate is helping scale carbon markets to achieve gigatonne-level impact. Contactabsoluteclimate@ in to access your portfolio
Reuters
30-01-2025
- Business
- Reuters
Nuclear revival puts uranium back in the critical spotlight: Andy Home
LONDON, Jan 30 (Reuters) - Is uranium a critical mineral? Not according to the U.S. Geological Survey (USGS), which dropped it from its critical minerals list in 2022 on the grounds it didn't qualify because it was a"fuel mineral", opens new tab. U.S. President Donald Trump wants it to think again. One of Trump's many"Unleashing American Energy", opens new tab directives requires the Secretary of the Interior to instruct the director of the USGS to "consider updating the survey's list of critical minerals, including for the potential of including uranium." Inclusion on the list would open up federal funds and fast-track permitting for domestic uranium projects. It seems curious that uranium has slipped through a legal gap in the Energy Act of 2020, which stipulates only a "non-fuel mineral" can be considered a critical mineral. Uranium ticks many of the criticality boxes. It's experiencing a step-change in demand, global supply is heavily concentrated and the United States is almost totally import dependent. The uranium price reflects these changing dynamics. Last year's frothy rally to a 16-year high of $106 per lb has dissipated. But at a current price of $71 per lb, uranium is still higher than at any point in the decade that followed the 2011 Fukushima disaster in Japan. NUCLEAR COMEBACK Fukushima caused many countries to rethink the role of nuclear in their energy mix but the threat of global warming has brought nuclear power in from the cold. The affirmation came at the COP28 summit in December 2023, when more than 20 countries launched the "Declaration to Triple Nuclear Power". It was official recognition, opens new tab of "the key role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050 and keeping the 1.5-degree goal within reach." Such green credentials likely don't count for much with the Trump administration but Republicans view nuclear energy as a core component of national security, meaning it enjoys bipartisan support in the United States, albeit for different reasons. Big tech is also enthusiastic as it searches for ever more power to feed its data centers. Microsoft (MSFT.O), opens new tab signed a deal with Constellation Energy (CEG.O), opens new tab in September to help resurrect a unit of the Three Mile Island nuclear plant in Pennsylvania. The re-embrace of nuclear power is a global trend. Generation from the world's fleet of nearly 420 reactors is on track to reach new heights in 2025, according to the International Energy Agency (IEA). Some 63 reactors are currently under construction, one of the highest levels since 1990, and the lifetimes of over 60 reactors will be extended, the IEA said. SUPPLY STRESS The resurgence of nuclear power means the world is going to need a lot more uranium and supply is already struggling to match demand. A decade of low prices has taken its toll, particularly in the United States, where production fell from almost five million lb in 2014 to just 21,000 lb in 2021, according to the IEA. Global uranium production is now heavily concentrated. Kazakhstan, Canada and Australia accounted for around two-thirds of global output in 2022, according to the World Nuclear Association. Indeed, one of the triggers for the January 2024 price spike was a warning from Kazakhstan's Kazatomprom ( opens new tab, the world's largest producer, it might not achieve production targets due to a shortage of sulphuric acid. Market stress is compounded by political stress. The United States is trying to break its dependence on Russia for enriched uranium. Russian material accounted for 27% of the enriched uranium supplied to U.S. commercial reactors in 2023. The Joe Biden administration banned Russian imports, albeit with waivers through 2027. Russia has responded by imposing restrictions on shipments to the United States, also with waivers. Complicating things further is Trump's threat to impose tariffs on Canada, which is the largest supplier of uranium to the U.S. market. GOING CRITICAL The uranium market is recharged after a decade in hibernation. There was a lot of speculative froth in last year's price spike with both institutional investors such as Goldman Sachs and retail investment vehicles such as Sprott Physical Uranium Trust (U_u.TO), opens new tab chasing the rally. But the uranium price remains historically high. The market is pricing in a supply shortfall relative to demand from a growing global fleet of nuclear reactors. The United States has plenty of potential new supply projects, many of them using leach technology, with which to fill the gap. How quickly they can be activated depends on the difference between a critical mineral and a "fuel mineral" that is increasingly critical. The opinions expressed here are those of the author, a columnist for Reuters here.
