EV Chargers, Biofuel Makers Square Off in Billion-Dollar Tussle
- Carbon credit programs for transport fuels spread globally
- Draft EU legislation pushes EV charging funding to biofuels
Your decision to dump a gas-fueled car for an electric car will probably depend in part on your confidence there are enough chargers to keep you on the road. That decision may become easier if tens of billions of dollars are poured into charging networks from relatively unknown carbon credit programs in North America and Europe. Lobbyists, however, have been tussling over who the flow of funds from these credits should favor.
The programs require gasoline and diesel providers to offset their emissions by buying credits from suppliers of low-emission fuels such as electricity and biofuels. The success of electricity providers in winning a share of credits threatens billions of dollars of funding for the biofuel and e-fuel sector, which includes companies such as Neste, Phillips 66 and TotalEnergies.