Peter Dykstra: Headwinds remain for clean energy
Author: Peter Dykstra
President Biden turns his victory lap for squeaking a major climate victory through a 50-50 Senate, the ghost of Charles Wilson remains. Wilson was the first defense secretary in the Eisenhower administration. And yes, he was a bit partial to GM because his previous job was CEO of the company. If on top of Wilson’s ghost you throw in Big Oil and its dominance in U.S. foreign policy - witness Biden’s making nice with the Saudis last month - you’ll see the tricky road ahead to realize the promises of the Inflation Reduction Act. To be sure, the climate and energy provisions in the Inflation Reduction Act are significant, even if they’re long overdue. But in order to placate the fossilized wing of the Democratic Party, for example, the bill broadens industry access to federal lands - even if the industry holds over 9,000 public lands drilling permits it hasn’t used.