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.
Related News
Bitcoin consumes 'More electricity than Argentina' - Cambridge
LONDON - "Mining" for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.
Cambridge researchers say it consumes around 121.36 terawatt-hours (TWh) a year - and is unlikely to fall unless the value of the currency slumps.
Critics say electric-car firm Tesla's decision to invest heavily in Bitcoin undermines its environmental image.
The currency's value hit a record $48,000 (£34,820) this week. following Tesla's announcement that it had bought about $1.5bn bitcoin and planned to accept it as payment in future.
But the rising price offers even more incentive to Bitcoin miners to run more and more machines.
And as the price increases,…
