Trump admin cancels $3.7B for decarbonizing industry
The Trump administration announced Friday it has canceled nearly $4 billion in awards aimed at the decarbonizing industry that were issued under the Biden administration.
A press release described the $3.7 billion in canceled funding as mostly carbon capture projects — where technology is used to cut planet-warming emissions from fossil fuel plants — and “decarbonization initiatives.”
It also notes that of the 24 awards it canceled, 16 of them were issued between Election Day and Trump’s inauguration.
“While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,” Energy Secretary Chris Wright said in a written statement Friday.
In addition to carbon capture, projects that were canceled include efforts to advance climate-friendly cement production, getting greener furnaces at glass and pipe companies and an effort to cut emissions at various plants used by food company Kraft Heinz.
Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
How policy will affect the energy and environment sectors now and in the future:
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