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Fiscal Cliff Deal Reached, Clean Energy Not Forgotten

After months of negotiating, lawmakers in Washington, D.C., reached an agreement to avoid the so-called “fiscal cliff.” Featured in the measure is an extension of a renewable electricity production tax credit for wind, geothermal and some biomass projects, which gives credit for each kilowatt-hour of energy they produce. Highly contested prior to the bill’s passing was the credit’s impact on the wind industry. The credit, which offers 2.2 cents per kilowatt-hour of…

Obama Moves Ahead with Oil Sanctions as Gas Prices Climb

Before Congress headed home for spring recess, the Senate, with a rate vote of 100, approved President Obama’s new round of sanctions designed to deter Iran’s nuclear ambitions. The president’s decision was based on an analysis of current oil supply and the likely effect of further sanctions on prices. The Senate also shot down the president’s bid to reduce subsidies to oil producers. Oil…

Debt Ceiling Impasse Could Hit Clean Energy Hard

Clean energy could be among the hardest-hit sectors if the U.S. government does not raise the debt ceiling and then defaults on the national debt. If there is a default, it could hurt in direct ways, by stopping payments for cash grants and loan guarantees that support many renewables projects. It could also hit innovation, by putting the Department…