Copper's Spiking - And This Junior Has the Grades to Match

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

EPA awards $144 million to California to phase out big diesel trucks

PHILIP MARCELO
December 11, 2024

SAN FRANCISCO (AP) -- The Environmental Protection Agency is awarding $144 million in grants to fund 13 projects in California to help the state wean off fossil fuels and phase out big rigs that run on diesel.

The money will go to the state transportation department, cities and school districts, among others, to purchase some 480 zero-emission vehicles to replace diesel-powered trucks, school buses and other large vehicles. It is part an EPA program that provides a total of $735 million to 70 projects across the country, officials announced Wednesday.

The grants are paid for by the 2022 climate law approved by congressional Democrats. The law, officially known as the Inflation Reduction Act, includes nearly $400 billion in spending and tax credits to accelerate the expansion of clean energy such as wind and solar power, speeding the nation's transition away from the oil, coal and natural gas that largely cause climate change.

The funds, to be delivered in early 2025, "will reduce air pollution, improve health outcomes in nearby communities, and advance the campaign to tackle climate change," EPA Pacific Southwest Regional Administrator Martha Guzman said in a statement.

California and local agencies will have the next two to three years to implement the grants for zero-emission trucks.

Nationwide, the transportation sector contributes the largest share of greenhouse gas emissions annually, according to the EPA, with medium- and heavy-duty trucks contributing nearly a quarter of those emissions.

Heavy-duty vehicles make up about 3% of vehicles on the road in California, but they generate more than half of nitrogen oxides and fine-particle diesel pollution, according to the California Air Resources Board. That's because these trucks have diesel engines that, while more powerful, produce more pollution than gasoline engines. They also travel many more miles than passenger vehicles.

California is trying to rid itself of fossil fuels, passing new rules in recent years to phase out fossil fuel-powered cars, trucks, trains and lawn equipment in the nation's most populous state. But those rules still require waivers from the EPA, which typically sets standards for emissions from passenger cars, trucks and other vehicles.

Democratic Gov. Gavin Newsom last month, in anticipation of the incoming presidency of Donald Trump, traveled to Washington urge the Biden administration to grant waivers to eight climate rules, including those on zero-emission vehicles and emission standards for pollutants. The issues have been targeted in the past by President-elect Trump.

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