More Carbon Capture Projects Could Lose Funding as Recovery Act Deadline Looms

摘要

Two carbon capture and sequestration projects are at risk of having hundreds of millions of dollars in Recovery Act funding revoked by the Energy Department if they can't meet spending deadlines set out in the law, current and former Energy Department officials told Bloomberg BNA. Like the Energy Department's February decision to suspend $1 billion in American Recovery and Reinvestment Act (ARRA) funding for its premiere carbon capture and sequestration project FutureGen, two additional demonstration projects are racing to meet a deadline that requires the funding to be committed by July 1 and spent by Sept. 30. Any funds not spent by then would revert to the Treasury. "We have some other challenges in the portfolio, and I think you'll be seeing our responses soon," Energy Secretary Ernest Moniz told reporters last month.