WATCH: Senator John Hickenlooper discusses Inflation Reduction Act of 2022 and its climate benefits

WATCH: Senator John Hickenlooper discusses Inflation Reduction Act of 2022 and its climate benefits
Published: Jul. 29, 2022 at 11:06 AM MDT|Updated: Jul. 29, 2022 at 12:46 PM MDT
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DENVER, Colo. (KKTV) - On Friday, Senator John Hickenlooper was joined by climate advocates in downtown Denver to discuss the Inflation Reduction Act of 2022 and how it would help lower energy costs, increase clean energy production, and reduce carbon emissions roughly 40% by 2030.

WATCH FULL PRESSER at the top of this article.

Climate provisions on the bill include:

  • Over $100 billion in tax credits for clean energy generation and storage, as well as other clean technologies like EVs, clean hydrogen, and carbon capture.
  • Broad reforms to our federal oil and gas leasing system, including Sen. Hickenlooper’s COMPETES Act, which ends the speculative practice of non-competitive leasing.
  • Over $10 billion for home efficiency and electrification upgrades.
  • Methane fee of $1,500/ton of leaked methane from oil and gas operations – equivalent to a $60/ton carbon fee on fugitive methane.
  • Tens of billions of dollars in clean infrastructure and capacities, including solar, wind, and battery manufacturing, long-distance electrical transmission lines, and DOE Laboratory (incl. NREL) infrastructure.
  • Tens of billions for environmental justice, including reducing air pollution in urban communities and supporting rural communities.

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