EU Commissioner Warns U.S. Clean Energy Spending Could Backfire ...Middle East

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EU Commissioner Warns U.S. Clean Energy Spending Could Backfire
source : OILPRICE ( Middle East ) () 14
The Biden administration’s massive energy transition spending plans risk hurting the relationship between the U.S. and the EU by pushing the latter closer to China, the bloc’s trade commissioner has warned. According to Valdis Dombrovskis, as quoted by the Financial Times, the Inflation Reduction Act, which stipulates spending of some $369 billion, most of its for the energy transition, could make “overtures and propositions” from China to the EU more appealing. Should this happen, he went on to add, it “may work against…

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