The Senate version of President Donald Trump’s tax-cutting bill slashes green energy tax credits but contains generous subsidies for petroleum companies that use captured carbon dioxide in oil production.

A U.S. Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump's administration,

The Senate Finance Committee’s language would take a sledgehammer to some parts of the renewable-friendly Inflation Reduction Act while sparing others.