The Inflation Reduction Act. That's the Orwellian moniker of legislation signed into law by President Joe Biden on August 16th, 2022. It hasn't reduced inflation.
It's actual goal was authorizing $783 billion in federal money to combat climate change. Evidently there wasn't enough money for the congressional Whigs to finance the fake efforts of their cronies, off-shore wind turbines, solar panels, direct capture CO2 pipelines and sequestration, hydrogen research and carefully orchestrated propaganda. Funds were also needed to gain the support of academia and the media to create the anxious atmosphere necessary for public acceptance.
greencarreports.com
A large share of the general population, if they thought about the "problem" at all, felt that the issue was an example of Marxist thinking intruding on the US capitalist system. They were wrong. The climate crisis was a great opportunity for both existing energy providers and an entreprenurial capitalist class looking for entry level openings with huge subsidies.
The election of 2024 may have changed that. The president-elect has made known his skepticism of the climate emergency and his plan to roll back provisions of the IRA. If successful this will create financial negatives that will compromise the survival of the new entrepreneurs and disappoint the existing energy structure. Since there have already been deals and commitments based on the IRA, all of which involve big money, there will be much conversation between business moguls, their congressional allies, the relevant bureaucrats and the involved researchers. Modifying legislation once enacted is even more difficult than initially creating it because dependencies have been created.
anker.com
Ultimately, the situation is an example of the failure of the democratic process and government in general that ends when all the money isn't gone but redistributed among the oligarchs.
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