**Energy Department Axes $3.7 Billion in Climate Technology Funding**

The cancellation impacts multiple projects aiming to mitigate global warming from industrial emissions.

In a decisive action, the Energy Department announced the cancellation of $3.7 billion in financial awards, originally designated for companies aimed at developing technologies to address global warming. The government underscored that the 24 projects being discontinued, including several targeting carbon emissions from cement, iron, glass, and chemical production, would not serve the best interests of American taxpayers.

Among the projects affected is a $331 million initiative connected to Exxon Mobil, which sought to transition from natural gas to hydrogen at its chemical plant based in Baytown, Texas. Additionally, two awards totaling $540 million were also rescinded from Calpine, a leading electricity producer. The company had proposed capturing and sequestering carbon emissions from natural gas power facilities in Yuba City, California, and Baytown, Texas.

Energy Secretary Chris Wright articulated the rationale behind these cancellations, stating that the projects "failed to advance the energy needs of the American people" and lacked economic viability. He criticized the previous administration for not conducting comprehensive financial reviews prior to granting the awards, indicating that many were rushed through after the recent electoral decision.

Wright emphasized that the measures now being taken are aligned with securing a responsible investment of taxpayer resources, aiming to reflect the current energy demands sharply. The reality of these cancellations brings a significant shift in focus away from utilizing taxpayer money to propel technologies aimed at reducing industrial carbon emissions. As the energy landscape continues to evolve, the implications of this decision may resonate within both environmental and economic sectors for years to come.