If Big Oil begins to be happy with the glow of its government-sponsored climate era, they may report a rude awakening, according to a new memo from the Wall Street Journal. [emphasis, links added]
The doe move can make everything from the hydrogen hub to the crosshair carbon capture collaboration – yes, even with ExxonMobil and the West’s buzz project.
According to an internal memorandum, cuts could put two key DOE offices in charge of turning to the country’s most ambitious decarbonization efforts.
These include government contracts that have been signed or in the pipeline, which means many projects may suddenly find themselves without a dance partner or checkbook.
The irony is the rich. For more than a year, energy giants such as ExxonMobil, Chevron and the West have been begging Washington for clean energy policies and keep consistency.
They said, “Just give us the rules, we will play.” So DC instead gave them money. Now? Tip nervous eyes as rules and funds begin to evaporate.
Not only oil titans, it could be hit. Solar players such as First Solar, SunPower and Shoals Technologies are all on the list of possible collateral damages.
The hopeful people of energy storage, hydrogen dreamers, and a handful of carbon fishing companies still convince investors that it is true this time.
If finalized, these cuts will show how the federal government sees its sharp hub for its role in energy innovation.
Top photos from the American Public Electric Power Association
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