Latest news with #climateagenda
Bloomberg
28-05-2025
- Business
- Bloomberg
Australia Lets Biggest LNG Plant Run to 2070 in Climate Setback
Australia gave preliminary approval to extend the life of its biggest and oldest liquefied natural gas plant for decades, potentially creating billions of dollars in new drilling opportunities but raising questions about the nation's climate agenda. Environment Minister Murray Watt said he's made a proposed decision to extend North West Shelf LNG's operating life to 2070, with conditions. Operator Woodside Energy Group Ltd. will have 10 business days to respond to the proposed decision, he said in a statement.
E&E News
27-05-2025
- Business
- E&E News
Clean energy industry enters ‘nightmare scenario'
The clean energy transition may soon be on its own. The 'One Big Beautiful Bill Act' passed last week by the House would effectively end most clean energy tax credits, reversing a large chunk of former President Joe Biden's climate agenda. Wind and solar projects would need to begin construction within 60 days of the bill's passage — or start operations within two years — to receive the credits before they expire. Clean energy factories that use Chinese inputs or equipment would essentially be barred from receiving federal money. Tax credits for electric vehicles would be gone entirely by the end of next year. Advertisement 'It is definitely massive headwinds,' said Sam Huntington, director of North American power research at S&P Global Commodity Insights. 'If the bill goes through as the House has set it up, that is a pretty bleak scenario for the next few years, at least.'
