The US’s Inflation Reduction Act (IRA) counts on massive direct subsidies to its private sector to stimulate a green transformation of the economy. The EU has opted largely for carbon pricing and other taxes to make the same transition. The two approaches are in no way mutually exclusive – and both have benefits. Paul Hockenos looks at the European answer to the IRA in the second installment of the two part series. Read part one here.
All posts tagged: USA
Moonshot Moment: Biden’s IRA Ups the Global Ante on Climate Protection
The US’s Inflation Reduction Act (IRA) is a moonshot moment in global climate protection, underscoring that the public sector will spend hundreds of billions in subsidies to drive decarbonization and a green economic transition. The EU’s bet on carbon pricing doesn’t rule out state aid, too. It now has to match the US plan. Paul Hockenos explains the details in the first installment of a two part series.
Will Dirty Nationalism Become the New Normal?
When I arrived in Berlin in August 2018, it was impossible to guess how different the world we are living in today would look compared to the summer four years ago. I had just started to work as a research assistant at the German Institute for International and Security Affairs – Stiftung Wissenschaft und Politik (SWP) in a project called the “Geopolitics of the Global Energy Transformation”. Building on two scenario workshops and deep-dive discussions with experts from all over the world, the key motivation back then was to better understand where the moving target of the global energy transformation is getting us and what geopolitics have to do with it. This resulted in four different scenarios published in a seminal Nature article in May 2019 with starkly contrasting realities. The point was not to exercise sophisticated crystal ball gazing, but rather to reflect on a deeper, more structural level, and paint the energy world of the future (2030) on a decidedly geopolitical canvas.
Cheniere’s new LNG greenwashing scheme exposes the deep flaws in industry’s methane strategy
In war there are winners and losers. One U.S. gas company profiteering off the back of Russia’s invasion of Ukraine is America’s largest Liquified Natural Gas (LNG) exporter, Cheniere Energy. The company has pivoted more of its exports this year to Europe, which is in desperate need of alternatives to Putin’s gas. Over 70% of the company’s LNG exports went to Europe in the first half of 2022, up from less than 40% the year before. Lorne Stockman and Andy Rowell report. This article was originally published on Oil Change International.
Will The Manchin Climate Bill Reduce Climate Pollution?
The media coverage on the Inflation Reduction Act touts its 42% emissions reductions, but Jim Walsh and Peter Hart dove into the math and it just doesn’t add up. This article was originally published on Food&Water watch.
Insane methane: The disastrous explosion of American Freedom molecules
As Russia’s brutal invasion of Ukraine metastasizes into a global humanitarian crisis, fossil fuel interests are wasting no time in trying to wrench as much glorious shareholder value as possible out of the growing calamity. Lead blogger and podcaster, Michael Buchsbaum argues there’s little coincidence that the United States, the world’s largest oil and fossil gas producer, is using fears of global energy insecurity to gain more market’s for their liquid natural gas (LNG) sector.
Don’t Look Up: star-studded film is a disaster-parable on climate inaction
The apocalyptic film has polarized critics while furthering a global debate on our collective failure to act on the climate emergency. With Hollywood stars like Leonardo DiCaprio, Meryl Streep and Jennifer Lawrence, since it’s release on December 24, it’s become the second-most-watched Netflix original film in the streaming platform’s history. Its popularity demonstrates a widespread hunger for climate-themed media while offering a global warning about trusting U.S. politics. Lead blogger and podcaster, Michael Buchsbaum offers his take.
Hunting Methane in the United State’s #1 oil and gas producing Permian Basin
Methane emissions from oil and fossil gas facilities are skyrocketing, potentially accelerating the severity of climate change. Nowhere is the problem worse than in the United State’s Permian Basin, the biggest oil and gas field in the now world-leading petro-carbon producing nation. Stretching from Texas into New Mexico, satellites are detecting worsening levels of methane pollution. This comes as no surprise to “Texas” Sharon, one of the world’s first methane hunters. Recording thousands of leaks with a specially designed camera, she shares her observations with lead blogger and podcaster Michael Buchsbaum.
Permian Climate Bomb: The US’ biggest oil and gas field is spewing dangerous amounts of methane
Methane pollution stemming from oil and gas production is accelerating climate change. New data from the International Panel on Climate Change (IPCC) finds that methane may be responsible for almost half of all global warming to date. As the United States becomes the world’s largest producer and exporter of oil and gas, monitoring suggests methane is simply billowing out from its biggest fields, particularly in Texas’ Permian Basin. In a new series on methane, lead blogger and podcaster, Michael Buchsbaum reviews the Permian’s growth and new efforts by Washington to get those rising emissions under control.
Exploring innovative ways to bring down methane emissions in the energy sector
After long years of neglecting the science about the negative climate impact of fossil gas (i.e. methane) the EU Commission finally came up with a Methane Strategy, with a concrete legislative proposal on the energy sector expected later this year. There is large consensus on the need to reduce methane emissions due to its high warming potential to limit global heating, but will the EU Commission propose sufficient measures and what other innovative policy options exist? Andy Gheorghiu summarizes the key highlights of an online event around a new study exploring this question.