Biden Advances Clean Fuel Tax Credit Initiative

As President Joe Biden approaches the end of his term, he is racing to finalize significant climate initiatives, including a $25 billion loan program for clean energy projects, as well as a clean fuel tax credit aimed at promoting sustainable aviation fuel. The Department of Energy is working to close several pending loans, including major funding for electric vehicle components and hydrogen plants, before President-elect Donald Trump potentially alters these plans. Additionally, Biden intends to enhance the World Bank's International Development Association fund to support economically challenged nations and is set to announce a bilateral clean energy partnership with Brazil. The urgency of these initiatives reflects the Biden administration's commitment to green energy amidst the impending transition of power, with risks posed by Trump's differing energy policies, particularly regarding liquefied natural gas. The clean fuel program is projected to begin in 2025, while studies on LNG's environmental impact are also forthcoming. These efforts represent Biden's last significant push to solidify his climate legacy before leaving office.