Why Is the Fossil Fuel Industry Praising the Inflation Reduction Act? ...Middle East

An unlikely star emerged this week at CERAWeek by S&P Global, the giant annual gathering of oil and gas executives in Houston: the Inflation Reduction Act. It’s the Biden administration’s pride and joy, the biggest piece of climate legislation ever passed in the United States. And believe it or not, fossil fuel CEOs see a lot to like about it.Oil and gas executives on stage this week approvingly called the IRA a “game-changer” and “framework for capital for years.” The IRA does contain some money to be dispensed to drillers. But the industry’s celebration of the IRA seems to be more about what this piece of legislation, passed only via painful compromise, symbolizes: the end—for now—of the p

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