What are the prospects for the industrial gases industry arising from two landmark pieces of legislation by the federal government that landed over the summer?
The clean-energy and climate protections agenda built into the Inflation Reduction Act was published in mid-August this year with a focus on US energy production and especially clean energy. Just afterwards, in early September, the DOE’s industrial decarbonizing agenda was laid out, with a comprehensive mix of measures aimed at cutting emissions across five sectors: chemical manufacturing, petroleum refining, iron and steel, cement production and the food and beverage industry.
Heavy industry in all its forms accounts for nearly a third of primary energy-related carbon dioxide emissions in the US, according to the federal government’s most recent calculations. The work and investment that the commitment unlocks will span energy efficiency improvements, electrification, the use of low-carbon fuels and carbon capture and utilization and storage (CCUS).
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