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Oil Falls As Markets Fear Further Action From U.S. Fed

Oil Falls As Markets Fear Further Action From U.S. Fed

Crude prices fell significantly at…

Clean Energy’s Role In $1-Trillion Infrastructure Bill

Funds for clean energy, a national network of electric vehicle chargers, grid upgrades, and zero-emission buses are part of the $1-trillion Bipartisan Infrastructure Deal that Congress passed this weekend.

The bill aims to tackle the climate crisis and advance environmental justice, among other goals such as rebuilding America’s roads, bridges, and rails, expand access to clean drinking water, and ensure access to high-speed internet for all, the White House said on Saturday.

The bill will allocate funds to reduce greenhouse gas emissions in the transportation sector, which is currently the largest single source of greenhouse gas emissions.

“The legislation will expand public transit options across every state in the country, replace thousands of deficient transit vehicles, including buses, with clean, zero emission vehicles, and improve accessibility for the elderly and people with disabilities,” the White House said.

The legislation will invest $7.5 billion to build out a national network of EV chargers in the United States, which President Joe Biden expects to create jobs and help fight the climate crisis.

In addition, the Bipartisan Infrastructure Deal earmarks more than $65 billion investment in clean energy transmission and grid—the largest such investment in American history.

The legislation also invests $21 billion clean up Superfund and brownfield sites, reclaim abandoned mine land and cap orphaned oil and gas wells.

“We will get America off the sidelines on manufacturing solar panels, wind farms, batteries, and electric vehicles to grow these supply chains, reward companies for paying good wages and for sourcing their materials from here in the United States, and allow us to export these products and technologies to the world,” President Biden said in a statement.

“Strengthening the grid is a critical issue to address the climate crisis and enable the deployment of clean energy sources across the country,” said Heather Zichal, CEO of the American Clean Power Association.  

By Charles Kennedy for Oilprice.com

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