Energy industry

The Internal Revenue Service provided guidance and a safe harbor Wednesday for businesses that claim carbon capture credits in an effort to reduce emissions of carbon dioxide.

A group of 27 Democratic senators is calling for action in the Senate Finance Committee on extending energy-related tax credits and examining new tax proposals, especially those that incentivize renewable energy projects.

The two appropriations bills extend government funding while also dealing with several of the tax extender provisions and repealing some Obamacare taxes.

The GREEN Act aims to deal with climate change by offering a range of tax incentives for use of renewable energy.

Four family members belonging to a Utah polygamist group admitted defrauding the U.S. of $512 million in renewable-fuel tax credits, with the leader saying the mastermind was an Armenian immigrant who owns a small oil and gas empire in Southern California. That businessman now faces trial alone.

Extension a tax incentive for electric vehicle purchases could cost up to $15.7 billion, according to an analysis prepared by opponents.

Tax credits worth billions of dollars for the wind and solar industries are set to expire or begin phasing out next year — part of a 2015 deal Democrats struck that ended a 40-year-old ban on the export of crude oil.

The deduction has been a valuable tax planning tool for architects, engineers and building owners, but it never spurred energy efficient design.

An effort to put a tax on carbon dioxide emissions just won an unlikely underwriter: a top producer of oil and gas.

The Trump administration dropped a two-year-old accounting probe into Exxon Mobil Corp.’s valuation of its reserves and public disclosures about climate change, while inquiries by two Democratic-led states continue.

A new, Republican-led effort to tax carbon dioxide emissions isn’t likely to make it to a vote in the House of Representatives anytime soon — but opponents aren’t taking any chances.

The Internal Revenue Service is extending incentives for solar power and other clean energy sources by as long as four years.

The Internal Revenue Service said Friday it’s ready to process tax year 2017 returns claiming four additional tax benefits recently renewed retroactively into law, including tax breaks related to energy conservation and production.

President Trump signed into law H.R. 1892, the Bipartisan Budget Act of 2018, just hours after the Senate passed the bill by a vote of 71-28 and the House by a margin of 240-186 this month.

Oil companies that have claimed more than a billion dollars in tax credits for burying carbon dioxide underground just got a windfall from Congress, which expanded that incentive as part of the government spending bill signed into law on Friday.

President Trump just signed and enacted a two-year budget bill that extends government funding through March 23 and also retroactively extends numerous tax breaks that had previously expired.

Oilmen, wildcatters and particularly refiners are reaping billions in gains from President Donald Trump’s tax overhaul, helping boost the staying power of old-style energy even as the world searches for cleaner fuels.

In the biggest blow he’s dealt to the renewable energy industry yet, President Donald Trump decided on Monday to slap tariffs on imported solar panels.

For Big Oil, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas.

Congress is close to lifting a 40-year-old ban on energy development in Alaska’s Arctic National Wildlife Refuge, but drilling for oil in that frozen wilderness may still be years away as the effort faces exhaustive environmental reviews and likely lawsuits.