Energy industry

In response to the coronavirus, the Internal Revenue Service and the Treasury are giving renewable energy companies more time to develop projects using sources such as wind and geothermal.

Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapore’s most powerful oil traders.

As oil prices collapsed in the fallout from the coronavirus, Singapore-based Hin Leong's foundations crumbled.

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.