Will the billions in green energy subsidies change anything?

In July, President Joe Biden delivered a speech at a disused coal-fired power plant in Somerset, Massachusettsfollowing record heat waves in the United States and Europe. In his address, he said that “climate change is a emergency” and one clear and present danger in the USA.”

It was not the official declaration of a national emergency that progressive climate activists had hoped for. But that was only a form of lip service to their demands.

Today, less than a month later, a Legislative agreement between Sen. Joe Manchin (DW.Va.) and Senate Majority Leader Chuck Schumer (D-NY) would commit $370 billion in new federal spending to fight climate change.

The deal, dubbed the Cut Inflation Act, succeeds the Build Back Better spending plan that Democrats fought over and failed to pass last year. The $370 billion figure is lower than what progressive activists originally wanted, but it nonetheless represents both the largest component of the Cut Inflation Act and a massive increase in the size and the scope of federal climate spending.

The bill has yet to pass, but Democrats are already arguing this could be a watershed moment for climate and energy policy, as well as the political fortunes of Biden’s faltering presidency.

That’s the subject of this week’s episode of Summary of Reason with Peter Sudermanwith Raison Science Correspondent Ronald Bailey.

Mentioned in this podcast:

“Are the climate targets of the Inflation Reduction Act plausible?” by Ronald Bailey

“President Biden Says ‘Climate Change is an Emergency,'” by Ronald Bailey

“More Heat Waves But Lower Heat-Related Mortality in the United States”, by Ronald Bailey

Audio production and editing by Luke Allen; produced by Hunt Beaty

About Christopher Easley

Check Also

SEAT-VW says to go ahead with Spanish electric car and battery project

MADRID, Nov 9 (Reuters) – Volkswagen’s Spanish unit SEAT is to go ahead with a …