States team up in fierce race for EPA climate grants - E&E News by POLITICO
States team up in fierce race for EPA climate grants - E&E News by POLITICO
Generous federal grants are inducing some states to improve their climate policies, according to a new analysis of an Inflation Reduction Act program.
Climate Pollution Reduction Grants (CPRG), one of the most flexible EPA programs included in the Inflation Reduction Act, offered every state $3 million to develop decarbonization plans, followed by the opportunity to compete for a slice of $4.3 billion to implement them. Almost every state participated, along with many cities, leading some places to produce their first-ever climate plans.
Now, EPA is deciding which ones deserve federal funding, with the largest awards valued at $500 million. The agency said it expects to announce the winners later this summer. The plans are revealing that some states have big ambitions that reach beyond their borders.
That’s according to Evergreen Action, the climate policy and advocacy group that helped shape President Joe Biden’s climate law. The group released a report Wednesday outlining some of the strongest state plans — including some that seek a competitive edge through cooperation.
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.