The Inflation Reduction Act Is A Game-Changer For Decarbonization ...Middle East

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The Inflation Reduction Act Is A Game-Changer For Decarbonization
source : OILPRICE ( Middle East ) () 27
The Inflation Reduction Act (IRA) is the Biden administration’s legislative triumph of August 2022. But despite its name, it will plow more than $170 billion of tax credits and possibly $40 billion more in loans to electricity users, producers, distributors, and manufacturers of electrical equipment over the next ten years. This is mainly to encourage the shift from the use of carbon fuels. The act relies on handing out tax credits that even the most determined climate deniers would find hard to turn down, as opposed to the Obama administration’s…

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