(Investing) – The U.S. government is considering cancelling $12 billion in Congressionally-mandated funding for clean energy projects beyond the cuts announced last week, a list of targeted projects seen by Reuters showed.
The projects on the list include two major direct air capture hubs that received billion-dollar awards from the administration of former President Joe Biden, including one that involves oil company Occidental.
The possible new cancellations come a week after the Department of Energy announced plans to cancel $7.56 billion in financing for hundreds of energy projects that it said would not provide sufficient returns to taxpayers.
White House budget director Russell Vought said in a post on X last week that the administration would terminate nearly $8 billion in climate-related funding in 16 Democratic-led states, including California and New York.
