On Tuesday, August 16, 2022, President Joe Biden signed landmark climate, health care, and tax packages called the Inflation Reduction Act (IRA). This historic legislation will infuse hundreds of billions of dollars into renewable energy programs. However, while the bill will spend billions over the next decade on climate change-fighting efforts, it also includes provisions to help the fossil fuel industry by allowing for new offshore drilling in addition to other benefits. Some environmental advocates say such provisions undermine the legislation’s intended goal of addressing climate change by helping the country move away from dependence on fossil fuels to renewables for our energy needs. But others say the benefits outweigh the negatives.
Read Bill McKibben’s take from the August 8th issue of The New Yorker here