**Energy Department Cancels $3.7 Billion in Emission Reduction Awards**

The U.S. Department of Energy has announced the termination of $3.7 billion in grants intended to support innovative technologies aimed at reducing global warming. The funds were originally set to be distributed among 24 different projects led by various companies, each seeking novel ways to decrease pollutants responsible for climate change.

Among the most significant cancellations was a $331 million grant to Exxon Mobil, which had plans to phase out natural gas in favor of hydrogen at its chemical facility in Baytown, Texas. Another notable termination involved $540 million that was earmarked for Calpine, a major electricity producer, to capture and store carbon emissions from two natural gas power plants located in Yuba City, California, and Baytown, Texas.

The canceled awards were part of a broader effort by the Biden administration to cut down on greenhouse gas emissions originating from industries such as cement, iron, glass, and chemicals production. Some projects aimed to capture and sequester carbon dioxide emissions before they could escape into the atmosphere and exacerbate global warming.

The Energy Department justified the cancellations stating that the projects "failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars." Energy Secretary Chris Wright emphasized that these actions serve the best interests of the public, criticizing the previous administration for allegedly rushing the decision-making process and neglecting a comprehensive financial review. Wright noted that 16 of the 24 awards were made in the period between Election Day and President Trump's inauguration on January 20.

This sweeping cancellation reflects the administration’s pivot towards more rigorously vetted investments in the nation’s energy future, focusing on more economically viable and impactful projects.