This article’s title is somewhat misleading:
>President Biden’s two landmark bills—the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA)—will shift incentives away from fossil fuel development, but not necessarily away from fossil fuel companies.
Fossil fuel companies with the means can capture incentives to broaden their operations, to accelerate hydrogen production, scale up carbon capture and storage projects, for example.
Still, the price for buying off the fossil fuel interests is throwing money at projects like CCS that, at best, only limit the damage of continued fossil fuel use.
The problem with settling for half-a-loaf in funding the energy transition we need is that the other half is feeding the continued production of fossil fuels, slowing the transition.
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https://archive.fo/Q2flG
This article’s title is somewhat misleading:
>President Biden’s two landmark bills—the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA)—will shift incentives away from fossil fuel development, but not necessarily away from fossil fuel companies.
Fossil fuel companies with the means can capture incentives to broaden their operations, to accelerate hydrogen production, scale up carbon capture and storage projects, for example.
Still, the price for buying off the fossil fuel interests is throwing money at projects like CCS that, at best, only limit the damage of continued fossil fuel use.
The problem with settling for half-a-loaf in funding the energy transition we need is that the other half is feeding the continued production of fossil fuels, slowing the transition.