OBBBA

Expectations for electric vehicle (EV) adoption in the U.S. took a sharp detour into uncharted territory earlier this month when President Trump signed the landmark budget reconciliation bill into law. Known as the One Big Beautiful Bill Act (OBBBA), the law dramatically scales back EV subsidies, eliminates penalties for automakers that don’t meet fuel-efficiency standards, and significantly restricts state-level zero-emission vehicle (ZEV) programs. In today’s RBN blog, we look at why the law is likely to slow the pace of EV adoption and impact forecasts for vehicle sales and gasoline demand — a key topic in the just-published Future of Fuels report from our Refined Fuels Analytics (RFA) practice.

The budget reconciliation bill signed into law July 4 by President Trump — known as the One Big Beautiful Bill Act (OBBBA) — dramatically scales back a number of clean-energy tax credits and adds a new layer of complexity for some projects, leading to a lot of doom and gloom around clean-energy initiatives, but the new legislation is a big positive for the carbon-capture industry. In today’s RBN blog, we look at how changes to the 45Q tax credit could help advance carbon-capture efforts while also providing a boost to producers of crude oil and blue hydrogen.