With clever political tactics, Joe Biden succeeded where his predecessors failed.
This Thanksgiving, I’m grateful that the United States is finally putting its mighty shoulder into the fight against climate change, that the decades of dawdling have finally come to an end.
But its climate provisions are historic. The Act takes a huge fossil-heaving economy and squeezes the carbon out of it by subsidizing every green activity you can imagine – investing in solar and wind farms, building and buying electric cars, retrofitting old leaky buildings, even fixing up wasteful agriculture practices. It is a rush to higher ground on every front.Princeton University think-tank
I know, China and India are still building coal plants, with over 200 now under construction in Asia alone. If the rest of the world follows America’s gluttonous model of development, we are all doomed. And even the course correction outlined in this Act won’t get us across the goal line on domestic emissions. Much still depends on state governments and the private sector.
The breakthrough idea was to use carrots, not sticks. Until now, the main green strategy was to make fossil fuels more expensive, either with a carbon tax, or a cap-and-trade program that would require businesses to purchase a credit for each ton of carbon they emit. Both tactics would drive up costs of gas, home heating oil, and any goods and services that required lots of energy.
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