API Statement on Final Regulations for Section 45V Hydrogen Tax Credit

WASHINGTON, January 3, 2025 — The American Petroleum Institute (API) released the following statement today from API Senior Vice President of Policy, Economics and Regulatory Affairs Dustin Meyer on the U.S. Department of the Treasury’s final regulations for the Section 45V Clean Hydrogen Production Tax Credit.

“Clear, consistent policy is essential for building a lower-carbon hydrogen industry and strengthening America's energy leadership. Treasury's 45V guidance marks a meaningful step forward, encouraging innovation while driving progress on emissions. This framework offers an opportunity for natural gas, when paired with carbon capture and storage, to compete more fairly in new markets and meet growing demand for affordable, reliable, lower-carbon energy. We look forward to collaborating with the incoming administration to uphold technology-neutral hydrogen policies that position the U.S. as a global leader in innovation.”

API represents all segments of America’s natural gas and oil industry, which supports nearly 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our approximately 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence®, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 800 standards to enhance operational and environmental safety, efficiency and sustainability.

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