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Joint Statement by the EU and the US following the 10th EU-US Energy Council, 4 Apr
1. The tenth European Union (EU) - United States Energy Council ("Council") met today in Brussels, chaired by EU High Representative/Vice President Josep Borrell Fontelles, European Energy Commissioner Kadri Simson, US Secretary of State Antony Blinken, and US Deputy Secretary of Energy David M. Turk. Minister Tobias Billström of the Swedish Ministry for Foreign Affairs represented the Presidency of the Council of the European Union.
[...]
16. The EU and the United States also intend to continue working together to foster energy investments aiding the transition towards climate neutrality in a transparent and mutually reinforcing manner avoiding zero-sum competition at the transatlantic level and around the globe. The Council noted the vital importance of diversifying and securing supply chains for critical minerals and raw materials necessary for the energy transition to net-zero emissions by 2050, and reinforced the value of EU-US collaboration in fora such as the Minerals Security Partnership, the Conference on Critical Materials and Minerals and the International Energy Agency [IEA] Critical Minerals Working Party. The Council invited its Energy Policy Working Group to explore possible further cooperation areas in view of achieving shared energy and climate objectives.
[...]
Multilateral Cooperation

21. The Council acknowledged progress on multilateral initiatives and intends to continue discussing strategic topics and coordinating positions ahead of major multilateral events. The strong EU-US relationship has paved the way for more ambitious global climate and energy actions, including at international fora such as climate COPs, G7, G20, International Energy Agency [IEA], Clean Energy Ministerial, Mission Innovation, the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC), International Renewable Energy Agency [IRENA], including through advancing "Just Energy Transition Partnerships" with third countries, and in fusion through both the ITER international agreement and EURATOM research. The EU and the United States intend to intensify joint work towards making energy efficiency a global priority.

archived sourced or processed, critical raw material, value chain bankruptcy court

APsplainin
Many electric vehicles to lose big tax credit with new [Inflation Reduction Act] rules
'War of the states': EV, chip makers lavished with ["]subsidies["]
AP reference: Good Jobs First User Guide to tax refunds, tax-free bonds, and foregone tax revenue
example profile: Maryland

by Cat on Tue Apr 4th, 2023 at 05:19:10 PM EST
[ Parent ]
rollcall | Treasury tops up TAX CREDITS where fossil fuel jobs were lost, 4 Apr
...The Treasury Department released guidance Tuesday detailing how clean energy producers can receive more in federal tax credits if they build climate-friendly projects in areas [states] that were once hubs for coal and oil jobs. The Treasury is offering the credits under an August law that contained $270 billion in tax breaks for clean energy.

The Energy Department separately rolled out an initiative to spend $450 million from the 2021 bipartisan [Infrastructure Investment and Jobs Act for clean energy-related experimental projects on land formerly used for mining....

hankyoreh | US to require Korean chipmakers to cough up trade secrets in exchange for incentives tax credits, 29 Mar
Based on the CHIPS and Science Act, the US Department of Commerce [Gina "School Lunch Debt" Raimondo] is insisting that companies building semiconductor production facilities in the US have to submit sensitive core business secrets such as semiconductor yields (the percentage of items without defects) when applying for incentives tax credits.

The request goes above and beyond ordinary business information such as general plans for procuring investment funds. It appears intended as a basis for detailed assessments of business information from investing companies, such as Samsung Electronics, with funds to be recovered if "surplus profits" are discovered.
[...]

"knowledge transfer" term sheet
The department also requested the submission of detailed forecasts for the facilities' operation in a category labeled "financial model." Companies are to provide information about quarterly operation rates for facilities, wafer production volumes, yields, and anticipated prices and sales by product type.
[...]
Under this system, companies such as Samsung Electronics and SK Hynix would ultimately have to provide the US with detailed information on yields and other business secrets and assume wide-ranging responsibilities for production workforce education in order to receive subsidies tax credits/abatements/reimbusements/increment financing.

In a so-called "guardrail" announced on March 21, the department said that companies receiving subsidies tax credits may not expand production in China by more than 5% over a ten-year period. This would leave South Korean companies that want subsidies tax credits in the position of bearing the burden of unforeseen developments that arise.
[...]

hankyoreh | At 13 months running, S. Korea faces longest trade deficit streak since Asian financial crisis, 3 Apr
by Cat on Thu Apr 6th, 2023 at 07:36:28 PM EST
[ Parent ]
DW | Why Poland is taking so long to build floating gas terminal?, 2027/2028
Polish energy expert, Piotr Przybyło, believes that compared with Germany, Poland is doing the terminal on the cheap. "Germany has had much greater fiscal flexibility," he told DW, adding that since the two German terminals have started operating, the cost of renting the floating terminals has risen by 50%. "That means Poland will lose even more in the longer term," he added.
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In Poland, it is necessary to build a much larger scope of infrastructure than in Germany, [[Rice University, TX market expert Anna] Mikulska said. Undersea transmission infrastructure and a berth for mooring the FSRU unit, as well as onshore gas pipelines with a total length of about 250 kilometers (155 miles), should be built from scratch, she added.
[...]
The United States accounted for more than half of PKN Orlen's total LNG imports last year, or 3.4 bcm, the Polish importer said. In 2023, the US will remain Poland's primary supplier of LNG, due to two long-term contracts with Cheniere Energy and Venture Global.
Poland's PKN Orlen seeks compensation after Russia halts oil deliveries, 6 Mar
Poland's PKN Orlen receives first supplies of gas from US, 11 Mar
Poland's PKN Orlen ends final Russian oil contract without penalties, says CEO, 5 Apr
by Cat on Sun Apr 9th, 2023 at 01:28:18 AM EST
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background
euobserver | EU starts talks on 11th round of Russia sanctions, 21 Mar
New sanctions should include Moldovan oligarchs helping Russia to destabilise the EU candidate country, Estonia, France, and Romania also said. And they should include Russian nuclear firm Rosatom, Lithuania added. The Rosatom sanctions could include board members and new contracts, Lithuania's Gabrielius Landsbergis said, leaving Rosatom free to finish up ongoing projects in Bulgaria and Hungary.
republicworld | Ursula Von Der Leyen Says New Sanctions On Russia Will Address Question Of 'circumvention', 24 Mar
...While the anonymous source did not reveal any details of the new sanctions, it was reported that Baltic and Finnish foreign ministers have said that the EU could sanction Russian nuclear energy giant Rosatom and Russians who have aided in evading the sanctions all this time...
archived Coal-fired Poland goes nuclear, 31 Oct, Westinghouse School of Economics
foreground
Russia-U.S. tensions could lead to uranium export ban, causing uranium price to soar [09.03.23]
Adnani pointed out that 20 percent of the United States's energy generation is from nuclear power, and that the U.S. produces very little uranium domestically. Most of the country's uranium is imported from Russia, Kazakhstan, and Uzbekistan.

"The U.S. is the largest consumer of uranium in the world," he said. "They consume 50 million pounds per annum. There is almost zero domestic production capabilities right now."

Adnani, who has two decades of experience in the uranium industry, said that if the U.S. sanctions Russian uranium or Russia enacts an export ban, the results would "shake this market," causing "upward pressure" on the uranium price. However, he said that the uranium price, which is currently trading at around $51 per pound, needs to reach at least $60 in order to make mining economically feasible.

archived How's that EU Rosatom "embargo" going?

bloomberg | World's Top Uranium Miner Sees Clients Switching From Russia, 11 Apr if wishes

Some nuclear plants in Eastern Europe, which previously sourced enriched uranium from Russia, are seeking contracts from 2025, Kazatomprom Chief Executive Officer Yerzhan Mukanov said.
[...]
Kazatomprom plans to open a third export route this year, shipping uranium via one of China's ports, the CEO said. The miner currently ships the atomic fuel through Russia and across the Caspian Sea to the Black Sea.

There is growing demand from China, which is seeking uranium to load planned new nuclear power plants and to increase its own stockpiles, Mukanov said. China's goal is to have "uninterrupted long-term supplies," he said.

archived deliveries to a new Chinese reactor
by Cat on Wed Apr 12th, 2023 at 07:12:23 PM EST
[ Parent ]
rollcall | As European TAX looms, a border FEE draws bipartisan focus, ally v ally carbon CREDITS
[...]
[CA Rep Scott] Peters and [DE Rep Chris] Coons introduced legislation last Congress to implement a tax on a range of imported commodities, specifically steel, aluminum, cement, iron, and the three fossil fuels: coal, oil, and gas.

The uptick in congressional interest comes as the European Union, The World's Largest trading bloc, is on track to implement the first phase of a carbon border scheme in October. The policy will place fees on certain of imported goods, including iron and steel, cement, fertilizer, aluminum, and electricity.
[...]
Greg Bertelsen, CEO of the Climate Leadership Council, an advocacy group that supports carbon pricing, said the origins of Republicans' interest in carbon border adjustment tools typically stems from economic or trade reasons, while the climate upside is secondary. For Democrats in Congress, it's often the reverse. No matter the topic that piqued other members' interest, the climate reduction benefits align with their agenda, Bertelsen said by phone.

< wipes tears >
During a February hearing of the Senate Banking, Housing and Urban Affairs Committee, [ND Rep Kevin] Cramer said he is interested in a carbon border mechanism, because it would recognize that "carbon-intensive companies" in the U.S. already operate under higher [?!] environmental standards than foreign competitors.
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"The U.K. has done the hard part, which is the carbon price. The tariff part is relatively easy"
The EU's actions have ruffled members of Congress, as Christoph Heusgen, chairman of the Munich Security Conference [!], said in March, when he told Vice President Kamala Harris the 2022 [Inflation Reduction Act] has stimulated some irritation in Europe, where some firms see the law as an unfair economic edge. "It has raised a lot of concern on this side of the Atlantic," Huesgen said. "But we have been reminded also by members of Congress about CBAM on our side."
[...]
The U.S. imported about $468 billion worth of goods to [sic] the EU in 2019, according to Walter, but the new border mechanism would affect a fraction -- about $1.4 billion -- [Third Way international policy dir Lindsey Walter]said.

By forcing [!] competition, carbon border mechanisms could be useful in lowering emissions from the industrial sector, a notoriously difficult slice of the economy, both domestically and globally, to de[-]carbonize.

"It's incredibly challenging to reduce industrial emissions," Walter said, adding that greenhouse gas emissions from industry are on track to soon [?!] be the largest source of emissions in America, surpassing those from transportation and electricity generation.

archived anti-coercion instrument, DW security talking points in Munich Security Conference 2023: Visions and eNtiTiES, a counterweight to USAmerica's Inflation Reduction Act in Energy as a Weapon of War: Russia, Ukraine, and Europe in Challenging Times
by Cat on Thu Apr 13th, 2023 at 10:26:53 PM EST
[ Parent ]
rollcall | Lawmakers question `rushed' US-Japan EV minerals deal, 13 Apr geology
"It's clear this agreement is one of convenience," House Ways and Means Committee ranking member Richard E. Neal [!], D-Mass., and Senate Finance Chair Ron Wyden, D-Ore., said in a statement. "Even among allies, the United States should only enter into agreements that account for the realities of an industry, learn from past agreements, and raise standards."
[...]
The recent deal with Japan is an example of these so-called Critical Minerals Agreements, and Treasury touted it as containing "robust obligations" to ensure free trade in critical minerals and "detailed undertakings related to the enforcement of labor and environmental laws."

But lawmakers such as House Ways and Means Trade Subcommittee ranking member Earl Blumenauer, D-Ore., said the administration is "redefining a Free Trade Agreement" with the guidance, and Rep. Dan Kildee, D-Mich., also a member of the subcommittee, accused the administration of "bypassing Congress' role in ratifying free trade agreements" with the deal.

U.S. excludes oil for Japan from Russia's Sakhalin-2 from price cap (23.11.22)
Japan will not ban imports of Russian oil, natural gas (10.03.23)
Japan buys Russian oil above $60-a-barrel cap, breaking with US allies: report (02.04.23)
Japan Splits With [Price Cap Coalition] on Russian Oil Purchases (04.04.23)
...Some industry experts have predicted that Japan will fully replace Russia as an energy partner with Qatar [+$$$] or the United States [+$$$]...
Because the deal was rushed, a Democratic aide said that it doesn't include enforceable or binding provisions that are a part of other congressionally approved free trade agreements. That, in turn, means the deal lacks specific commitments to kick China out of Japan's supply chain or binding environmental or labor standards.
[...]
BULLETIN
Since there was no legislative discussion of the trade agreement, lawmakers know few details about how the U.S. and Japan plan to decrease their reliance on China. Japan is a top processor and producer of permanent magnet motors used in EVs made of so-called rare earth minerals, but it still gets much of its raw materials from China, said Mark Seddon, senior metals consulting manager at energy market intelligence group Argus Media.
[...]
by Cat on Thu Apr 13th, 2023 at 11:21:15 PM EST
[ Parent ]
ABC News | FBI warns against using public USB charging ports, 11 Apr THREAT
[...]
The public charging stations could be a conduit for bad actors to introduce malware onto personal devices, officials warn.

"Avoid using free charging stations in airports, hotels, or shopping centers," the FBI Denver said. "Bad actors have figured out ways to use public USB ports to introduce malware and monitoring software onto devices. Carry your own charger and USB cord and use an electrical outlet instead."
[...]
While officials did not offer statistics about the prevalence of juice jacking, people have increasingly suffered from cyber-theft in recent years. Americans lost $10.3 billion to a wide variety of internet scams last year, according to an FBI report released last month.

by Cat on Mon Apr 17th, 2023 at 04:36:13 PM EST
[ Parent ]
These 14 EVs are the only ones left that get the tax credit, 17 Apr
Americans can purchase 91 models of electric cars and trucks -- but as of Tuesday, only 14 of them will qualify for federal tax breaks intended to persuade motorists to forsake their gas-guzzlers.

That number is sure to change.

archived YoY critical mineral content escalator, 2023-2026, vdL meets Joe
But for now, new Biden administration rules first announced March 31 will sharply winnow the number of vehicles now eligible for the [$3,750 - ]$7,500 tax credit, a long-awaited list that the Treasury Department published Monday morning.
Renault never stood a chance.
The new list is a big win for automakers in the U.S.—the Detroit Big Three of Ford, General Motors, and Stellantis [FKA Chrysler - (Fiat - Daimler)]—plus Tesla. But vehicles from European and Asian companies such as Volvo, BMW, Volkswagen[, HYUNDAI, KIA, TOYOTA, BYD,] and Nissan are losing the [HEV, PHEV, FCEV, and EV] tax credits that they had been eligible for until now.

[Fed-qualified EV Inflation Reduction Table: make | model | year | min MSRP | tax credit amt]

HOLD THE PHONE...
Volkswagen becomes first foreign carmaker to qualify for electric vehicle [TAX] credit, 19 Apr
... Volkswagen officials had said on Monday that they expected the ID.4 to qualify for the full federal tax credit of $7,500 but that the company was still awaiting the proper documentation from its battery supplier [!] to submit to the Treasury Department....
Thefts prompt 17 states to urge [manufactures'] recall of Kia, Hyundai cars, 21 Apr
ignition lock installation d/b/a "safety feature"
by Cat on Fri Apr 21st, 2023 at 09:21:44 AM EST
[ Parent ]

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