ROANOKE, W.Va. — U.S. Senator Joe Manchin, addressing the Governor’s Energy Summit this week, says the Inflation Reduction Act will impact West Virginia’s coal industry in a big way.
“The Inflation Reduction Act creates new opportunities for West Virginia’s coal communities making up the $250 billion in loans available for coal plants and fossil infrastructure to improve efficiency and adopt environmental controls,” Manchin (D-W.Va.) said in a virtual video message.
The summit took place Tuesday and Wednesday at Stonewall Resort in Lewis County.
During his address, Manchin also touted the recently signed bipartisan infrastructure law. He said West Virginia will be receive federal funds to address energy needs “without sacrificing affordability, reliability or our climate goals.”
“The bipartisan infrastructure law includes $12 billion for carbon capture, utilization and storage projects to produce fossil fuels in the cleanest way possible which we can do right here in the Mountain State,” Manchin said.
WATCH: I was proud to virtually address the #WV Governor's Energy Summit today. WV is well positioned to utilize the Bipartisan Infrastructure Law & Inflation Reduction Act to address our nation’s energy needs without sacrificing affordability, reliability, or our climate goals. pic.twitter.com/z6LVrmrQqP
— Senator Joe Manchin (@Sen_JoeManchin) October 26, 2022
The law also includes $8 billion for four hydrogen hubs to demonstrate the production and use of clean hydrogen, Manchin said.
“I’m working hard to bring one of those hubs to West Virginia,” he said.
The Inflation Reduction Act also supports oil and gas producers, Manchin said.
“These historic laws will save Americans money on electricity bills and help consumers afford technologies that will help lower emission and energy prices — a win-win for the pocketbook and our economic competitiveness,” he said.
The theme of the 2022 summit was “Building West Virginia’s Energy Future.”