Fortune Minerals Ltd T.FT

Yellen Is Running Out of Time to Make a Difference

[Allman]

Aside from waiting for the Canada Growth Fund, this is another fundamental reason, IMO, that FT has gone crickets, which is likely not only frustrating them, but the entire US/domestic clean energy industry ....

Implementing the law has been a massive undertaking for the Treasury. Its newly created IRA Program Office is working with the Office of Tax Policy, the general counsel’s office and the Internal Revenue Service, and several other agencies, to draft thousands of pages of rulemaking and guidance that will be crucial to the law’s success. Along the way, according to three Treasury officials, Yellen has remained deeply engaged, hashing through details with staff on at least a weekly basis.

Still, anxiety is growing over the pace of work to develop critical guidance on a slew of clean energy tax credits in the IRA, including incentives for hydrogen and sustainable aviation fuels, with tens of billions of dollars in potential investment hanging in the balance. And there are building concerns that the Treasury may move too slowly in implementing guidelines for claiming new, technology-neutral clean electricity tax credits that go into force in 2025 and have been dubbed the “workhorse” of the law. 

“If you’re talking about a whole new approach to clean-energy tax crediting, if you’re going to have investment continue apace and not go into a hole in late 2024, you’ve got to get that guidance out,” said Nat Keohane, president of the Center for Climate and Energy Solutions. ...

https://www.bnnbloomberg.ca/janet-yellen-is-running-out-of-time-to-make-a-difference-on-climate-1.1973296

[red]

Well let's hope the sleeping giant wakes everyone one up, it's hard to grasp that those in the know ( and we know that they are out there) are not making moves in anticipation of what they probably know is coming.....is the silence and inaction telling ? again we are not alone and we wait.