White House Forced to Decide on Keystone XL Pipeline
Facing the prospect of yet another government shut-down since Republicans won the House, a deal has finally been reached in Congress to extend federal government funding and a pay roll tax cut for an additional two months. The catch? Republicans added a provision related to the Keystone XL Pipeline that would require the White House to come to a decision on its construction in the next 60 days.
Last month, President Obama made it clear that the decision would be postponed until after the 2012 elections, and that any bill requiring a decision on the pipeline would be vetoed in the meantime. However, after Republicans somehow threatened to force the decision into the payroll tax negotiations this week, the White House has somewhat contradicted itself.
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However, while the bill grants a permit to move forward with construction of the pipeline within 60 days, it does not mandate that the pipeline will actually get built. So, while the language may have publicly softened regarding the decision, the White House could easily say no when the time comes—and presumably will.
In that case, this may be a fight the White House is willing to have in another two months in order to briefly extend the payroll tax cuts that would otherwise significantly increase taxes for the majority of Americans. That is what environmentalists are hoping for at least. Though some fear the White House is backtracking, an extended lower tax rate for the middle class isn't worth losing over a little non-abiding language inserted into a bill, so long as the President does in fact say no when decision time comes.
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.