Citing a desire to “protect taxpayer interests,” the U.S. Department of Energy announced in February plans to withdraw its $1.1 billion funding commitment to FutureGen 2.0, one of the most high-profile and costly coal-related projects in history.
FutureGen’s backers criticized the decision, saying the Energy Department is a fairweather supporter of projects meant to demonstrate carbon capture and storage. But the department plans to invest billions of additional dollars to advance this technology in coming years since its future feasibility is required for coal-fired power plants to meet climate regulations.
In February, U.S. Sen. Tim Kaine introduced legislation that would increase federal funding available for “clean coal” projects.
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