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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German official says nuclear would do little to solve gas issue
BERLIN - Germany’s vice-chancellor has defended the government’s commitment to ending the use of nuclear power at the end of this year, amid fears that Russia may halt natural gas supplies entirely.
Vice-Chancellor Robert Habeck, who is also the economy and climate minister and is responsible for energy, argued that keeping the few remaining reactors running would do little to address the problems caused by a possible natural gas shortfall.
“Nuclear power doesn’t help us there at all,” Habeck, said at a news conference in Vienna on Tuesday. “We have a heating problem or an industry problem, but not an electricity problem…
