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Introduced Version House Concurrent Resolution 88 History

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HOUSE CONCURRENT RESOLUTION 88

(By Delegates Caputo, Baldwin, Barrett, Bates, Boggs, Brewer, Byrd, Canestraro, Diserio, Eldridge, E. Evans, Ferro, Fleischauer, Fluharty, Frich, Hamilton, Hicks, Hornbuckle, Iaquinta, Isner, Lane, Longstreth, Love, Lovejoy, Lynch, Marcum, Maynard, Miley, R. Miller, Moye, Pethtel, Phillips, Pushkin, Pyles, Robinson, Rodighiero, Rowe, Sponaugle, Storch, Thompson, Ward and Williams)

[Introduced March 14, 2017]

 

Urging the United States Congress to pass, and the President to sign into law, legislation to extend and expand the current federal tax credit for carbon capture, utilization and storage.

Whereas, According to the United States Department of Energy, “A diverse portfolio of energy resources is critical to U.S. energy and national security,” and, “A diverse energy system has the inherent benefits of being more robust and resilient in comparison to a system that is heavily dependent on a limited set of energy resources,” and “A system that is diverse helps insulate the economy from certain risks, including price volatility and risks from supply disruptions that can affect the availability of particular energy resources or infrastructure,” and “CCUS brings with it significant economic benefits across a range of economic sectors, including mining and extraction, energy infrastructure, the manufacture of CCUS equipment, supply chains including component parts and raw materials, and the creation of a new CO2 commodity industry for use in enhanced oil recovery, bio-refining, and other products,” and “A combination of tax incentives, research and development, demonstration, and deployment will be critical in developing transformational carbon capture technologies and to drive down the cost of capture;” and

Whereas, The United States has abundance supplies of coal that provide important economic and energy security benefits to our nation; and

Whereas, West Virginia has long been committed to and is a leader in the research and development of technologies that provide clean and safe power generation; and

Whereas, Reliable and affordable electricity is vital to the economic growth of West Virginia, the creation and preservation of jobs, and the overall welfare of its citizens; and

Whereas, West Virginia is the second largest coal producing state and seventh largest natural gas producing state in the nation; and

Whereas, West Virginia is the fourth largest net exporter of electricity to other states in the nation; and

Whereas, West Virginia has the nation’s third largest recoverable reserves of coal and the nation’s fourth largest proved reserves of natural gas; and

Whereas, In West Virginia, ninety-nine percent of the generated electricity comes from coal; and

Whereas, Coal is responsible for more than $3.5 billion annually in the gross state product; and

Whereas, In 2015, according to the West Virginia Office of Miners’ Health, Safety and Training, the West Virginia mining industry employs 48,327 people, and preservation of the coal industry is vital to our state economy; and

Whereas, A central element of a sustainable energy strategy for West Virginia is continued research and development of carbon reduction strategies, such as CO2 capture, utilization, and storage through emerging technologies such as geological sequestration, mineral carbonation, and the beneficial use of captured CO2, in order to maximize economic opportunities; and

Whereas, West Virginia institutions such as West Virginia National Research Center for Coal and Energy, West Virginia State University Energy and Environmental Science Institute, and others strive to develop technologies that will allow efficient carbon capture through collaboration or applied CO2 research, practical applications, workforce development and public education; and

Whereas, Legislation is needed to enhance current federal tax incentives so as to sustain and promote such collaborations and encourage private industry in manufacturing, energy generation, and food production, to implement and support new technologies that increase CO2 capture, utilization, and storage; therefore, be it

Resolved by the Legislature of West Virginia:

That we call upon the United States Congress to pass, and the President to sign into law, legislation to extend and expand the current federal tax credit for carbon capture, utilization and storage under Section 45Q of the Internal Revenue Code; and, be it

Further Resolved, That suitable copies of this resolution be delivered to the President of the United States, the Speaker of the United States House of Representatives, the United States Senate Majority Leader, and all members of the West Virginia Congressional Delegation.

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