White House endorses clean energy tax credit
WASHINGTON, D.C. - Vice President Joe Biden proposed a $5 billion expansion of a clean energy tax credit as the White House unveiled the latest part of its push to tackle double-digit U.S. unemployment.
Senior Obama administration officials said they were confident of getting quick congressional support for the plan, which they expect to generate $15 billion or more in private investment and create tens of thousands of new manufacturing jobs.
The announcement came alongside a White House report on the vital role manufacturing plays in the U.S. economy, as Biden hosted chief executives to unveil a new framework from President Barack Obama to boost U.S. factories.
The officials said in a telephone conference that ensuring foreign exchange values were set in markets was part of the wider discussion on helping U.S. manufacturers lift exports, but were not a specific item in Obama's current focus. U.S. manufactures complain China artificially holds the value of its yuan currency down to give its exports a competitive edge.
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Rio Tinto seeking solutions that transform heat from underground mines into electricity
ARIZONA - The world’s second-largest miner, Rio Tinto announced that it is accepting proposals for solutions that transform waste heat from its underground operations into electricity for reuse.
In a press release, the company said this initiative is aimed at drastically reducing greenhouse gas emissions so that it can achieve its goal of becoming carbon neutral by 2050.
Initially, the project would be implemented at the Resolution copper mine in Arizona, which Rio owns together with BHP (ASX, LON: BHP). At this site, massive electrically-driven refrigeration and ventilation systems are in charge of cooling the work environment because of the latent heat…
