Posted on 10/28/2022 6:34:04 AM PDT by Tolerance Sucks Rocks
HARRISBURG – The General Assembly has sent the governor legislation that will create a new program to encourage the development of technology to convert fracked gas into hydrogen through $141.6 million a year in tax credits.
The approval of House Bill 1059 came over the objections of environmental groups and some Democrats who said that the plan will keep Pennsylvania invested in fossil fuel production for decades even as much of the world turns toward renewable energy.
“State lawmakers have clearly not learned from example after example of broken promises,” said former Secretary of Environmental Protection Patrick McDonnell, now the president and CEO of PennFuture. “More subsidies for the fracking and petrochemical industries will continue to deliver disappointing economic results along with huge environmental risks.”
Even so, the measure passed with strong bipartisan support – the Senate unanimously approved the bill on third consideration after the tax credits were added to it, and the House voted to concur to the Senate changes by a 139-59 vote.
The amended HB1059 would provide:
-- $50 million annually for a federally designated regional clean hydrogen hub. The amendment stipulates that a developer must have been selected for an award by the federal Department of Energy to do the project, invest at least $500 million in the project, create a minimum of 1,200 permanent jobs and give priority to hires in the local job market.
-- A $30 million increase in the amount available under the current tax credit for using natural gas to make petrochemicals or fertilizer. The amount goes to $56.6 million annually from $26.6 million annually.
-- $20 million in tax credits annually to support semiconductor and biomedical manufacturing.
-- $15 million in tax credits annually to support milk processing facilities.
(Excerpt) Read more at post-gazette.com ...
I notice that that rag didn’t provide a link to the bill so folks can read the text for themselves.
Gee, I wonder what else is in it....
Well, gee: Now they begin to embrace carbon-based fuels.
Hypocrisy breaks. /s
Oil, too.
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