These days, the fossil fuel industry is truly screwed. How come? It’s because of the new legislation that is being passed by the Senate. This would be months upon months after fossil-fuel friendly Democrats are hoping to do more. Our country is thinking about doing all they can to lessen the amount of gas emissions that filter into the air. The Inflation Reduction Act of 2022 pretty much welcomes that mindset to fit in change, the size of a metaphorical
When the Inflation Reduction Act of 2022 allocates $369 billion to reduce America’s greenhouse gas emissions in order to invest in renewable energy sources, scientists believe that it will lead to net reductions of forty percent by 2030. All in contrast to how it was in 2005. This could potentially be the climate legislation to be most historically responsible for ridding the states of greenhouse gas emissions beyond any other country’s means.
The bill itself tries to do everything to slow down the fossil fuel industry, which would also involve allowing drilling and pipeline deals. How they can possibly harm communities from Alaska to Appalachia while en route to the Gulf Coast, is as good as a guess from anyone.
Some groups involved, such as Taproot Earth Vision and the Center of International Environmental Law, have serious opinions about this whole proposal. Taproot doesn’t quite agree that worldwide cleansing should flush out the funds of well-to-do Americans who have to pay for the government’s mess. Meanwhile, folks from CIEL doesn’t solve the climate crisis. The Bill itself is just talking about controlling fossil fuels, but not cancelling them. Of course, plenty of environmental and community groups invoke some sort of optimism for the width of global benefits in order to cut greenhouse gas emissions. But to say that this bill is the end-all-be-all is an overstatement.
This Inflation Reduction Act happens to be a soggy version of Biden’s Build Back Better bill, wouldn’t you believe it?
Every Republican has been way more supportive of the fossil fuel industry than one would assume and yet they wouldn’t even want to entertain the idea of friendly competition. Just how literally insane is that, don’t you think so?
Plenty of advocacy groups think that while the IRA leaves a footprint on fossil footprints, it should just be another step in the process. It will essentially be our North Star that leads to a greener industry, albeit more capitalist. But it’s not a good idea to have this as an end game. Cutting greenhouse gas is good but it’s not proactive enough, as it tends to consign communities who feel threats by the rise in sea levels, floods and extreme heat waves.
Some even say the spending package is almost self-sabotaging. Yes, it’s monumental how all these dollars are going to handle air pollution while allowing consumers to go green via electric vehicles and household appliance subsidies. But it’s also giving a bunch of cash back to the corporations running our air into the ground in the first place.