Obama Pushes Energy Agenda in North Carolina
As gas prices doggedly persist in their nationwide climb, sparking mounting frustration and griping among American consumers, President Obama’s energy agenda continues to promote policies aiming to lessen our dependence on foreign oil supplies.
Obama will be discussing these policies during a visit to a truck plant in North Carolina Wednesday morning. Daimler is a British auto manufacturer and the stop marks Obama’s first visit to a foreign automaker during his presidency.
The energy agenda has already been a highlight at campaign stops in Florida and New Hampshire in the past two weeks.
The Politics of Gas Prices
Outlined incentives support the development of more fuel-efficient cars, as well as make next-generation vehicles easier to obtain and operate by the general public. In order to support the creation of more charging stations for electric vehicles, Obama has proposed a $1 billion incentive to local communities along with a possible increase in tax incentives for fuel efficient vehicles, a plan that has seen resistance from skeptical Republicans.
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These policies promote a long-term solution, Obama says, pointing to his goal to have 1 million plug-in vehicles on the road by 2015. The Obama administration is hopeful his agenda will have renewed support as gas prices have steadily increased since February 8, pausing Tuesday to drop less than one cent, bringing the national average for a gallon of regular unleaded gas to $3.76.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.