President Biden's Inflation Reduction Act has been described as the biggest action on climate change ever from the U.S.—but will it last?
's Inflation Reduction Act faces the threat of reversal by a future Republican government, experts say, as the war in Ukraine continues to disrupt energy markets.
Among other things, the legislation will aim to expand tax credits for energy-efficient buildings and electric vehicle charging infrastructure, and also establish provisions for American-made equipment for clean energy production. While this has the potential to accelerate the transition to clean and renewable energy, it could also push countries back towards domestic fossil fuel sources to reduce reliance on Russia at a time when theHistorically the U.S.
"It was the case in the 1970s when the U.S. tried and failed to transition away from oil and it has been the case since the 1990s as the country has tried and failed to transition away from fossil fuels. The subsidies approach—all carrots, no sticks—fits better with the realities of U.S. politics and for this reason, it [the IRA bill] passed when all previous attempts failed."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Biden Tells Fort Myers Beach Mayor, 'No One F***s with a Biden'President Biden had another one of those moments, where he became so engrossed in a convo he forgot there was a hot mic ... and it was something!
Read more »
President Biden caught on hot mic in Florida: 'No one f---- with a Biden'The president toured hurricane-ravaged Florida on Wednesday and got caught on a hot mic telling a local official, 'No one f---- with a Biden.'
Read more »
Joe Biden Caught on Hot Mic: 'No One F*cks with a Biden'President Joe Biden on Wednesday was caught on a hot mic while visiting Fort Myers Beach, Florida, telling a local mayor that 'no one fucks with a Biden.'
Read more »