Biden’s Proposed IRA 45V Tax Credit “Kneecaps” ARCH2 Hydrogen Hub

Well, you knew it was just too good to be true, right? When Santa Biden promised *billions* of dollars of "government" (i.e., your) money to prime the pump on establishing regional hydrogen hubs, with at least one of those hubs using natural gas as the primary feedstock to produce the hydrogen (which happened with the ARCH2 project in the Marcellus/Utica), it was too good to be true. And well, it was! The Bidenistas at the White House, Treasury Department, and Dept. of Energy proposed a new IRS rule last week that the 45V tax credits (part of Joe Manchin's so-called Inflation Reduction Act) can only be used if the hydrogen produced is "green" --- meaning NOT made from natural gas. In addition, the electricity used to produce the hydrogen can't come from fossil fuel sources like natural gas (if you want the tax credit). Biden just kneecapped the ARCH2 hydrogen hub project.

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