The Inflation Reduction Act – The Future of Energy Production in the United States
Tuesday, September 27, 2022 at 10:30 am – 12:30 pm PDT; 11:30 am – 1:30 pm MDT; 12:30 – 2:30 pm CDT; 1:30 – 3:30 pm EDT
Pricing: FREE for Members | $75 Nonmembers | $55 Government/Nonprofit
Registration closes at 12:00 pm on September 26, 2022
On August 16, President Biden signed the Inflation Reduction Act. Although the Act addresses a number of policy goals, a principle component is providing up to $369 billion of funding for energy and climate programs over the next decade to reduce greenhouse gas emissions. Although the Act contains significant provisions relating to electric vehicles, energy efficiency, and environmental justice, for this webinar our expert panel will focus on how the Act may affect production of energy and critical minerals. The Act subsidizes and encourages low carbon technologies, broadly defined to include renewables, nuclear, carbon sequestration, hydrogen, and energy storage. The Act also contains provisions that both support and constrain domestic oil and gas production. Issues that will be covered in this webinar include the following:
- For renewable energy generation, the terms and qualifications for extended production and investment tax credits, future technology-neutral credits, related bonus credits for meeting wage and apprenticeship, energy community, and domestic content requirements, and loans and other subsidies.
- The extension and expansion of tax credits for carbon sequestration and new tax credits for zero-emission nuclear power, producing components related to clean energy production, and producing hydrogen for fuel.
- Provisions that encourage the production of critical minerals, including a production tax credit, enhanced use of the Defense Production Act, and authority of the Department of Energy to make an additional $40 billion in loan guarantees.
- Impacts to federal oil and gas leasing, including tying onshore and offshore oil and gas lease sales to renewable rights of way, and increases in federal royalty rates, minimum bids, and rental rates for oil and gas development.
- New fees and taxes that will affect the oil and gas industry, including caps and penalties on facility methane emissions (and the relationship of these provisions with existing law), and the potential availability of EPA funding to assist operators with reducing emissions.
- Funding intended to speed up the permitting of energy infrastructure projects, including electricity transmission and oil and gas pipelines, and whether this funding can and will reduce delays arising from litigation under the National Environmental Policy Act.
JAMES W. COLEMAN, Professor of Law, SMU Dedman School of Law, Dallas, TX
RADCLIFFE (RANDY) DANN IV, Partner, Davis Graham & Stubbs, Denver, CO
NICOLE M. ELLIOTT, Partner, Holland & Knight, Washington, DC
KATHLEEN C. SCHRODER, Partner, Davis Graham & Stubbs, Denver, CO