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Oil prices rose again yesterday, but barely. Brent settled at $76.65 a barrel, up 0.4% on the day for a 2% rise this week, hardly the rebound OPEC+ was hoping for when Russia and Saudi Arabia announced further supply cuts on Monday. . As David wrote on Tuesday, despite all the group's efforts, the market doesn't seem particularly convinced that there are going to be oil shortages anytime soon. In today's energy source, where America's energy transition is back in the spotlight. Yesterday, the United States gave the green light to the country's third offshore wind farm; Today, President Joe Biden visits a South Carolina solar parts plant to tout the increase in clean energy jobs that has come from the landmark Inflation Reduction Act. Yet despite the steady pace of clean energy projects and job announcements emanating from the White House, concerns are growing about the consequences beyond the nation's shores. In our feature article, Amanda delves into fears that the IRA's blatantly 'made in America' push could harm developing nations as it aims for clean energy investments. That's less of a concern for the president as he prepares for a re-election campaign.
Data Drill shows, nationwide, green jobs numbers continue to rise. Thanks for reading – Myles US green push risks 'slowing down' transition elsewhere Nearly a year after its passage, it's hard to overstate the IRA's impact. The $369 billion Job Function Email Database package is a game-changer for US climate progress, after years of lagging behind; has reinvigorated the country's industrial base, previously battered by globalization; and has sparked a scramble among wealthy allies to match their largesse with their own subsidy packages. But for all its benefits, analysts warn that developing countries are being left behind. “The key concern. . . is how to attract investment when it seems that low carbon investment in the United States is so financially attractive? said Joseph Majkut, director of the energy security and climate change program at the Center for Strategic and International Studies. When Biden approved the IRA last August, he ushered the world into a new era of carrot-based climate policy.
The landmark climate law includes hundreds of billions in tax credits for clean energy development and is a prime example of "Bidenomics," the latest buzzword for the president's economic philosophy of using government funds to stimulate private investment and growth. Some other countries have followed suit. The EU, Canada and Australia have tried to create their own competitive subsidies while criticizing the US for "protectionism" and warning against a "subsidy war." But as richer countries seek to avoid an exodus of companies to the US, many developing countries lack the financial means to compete with the economic might of the US. Clean energy investments have stagnated in developing countries even before the approval of Western subsidies, and account for less than 10 percent of global investment in 2021, according to . David co-founder of Quinbrook Infrastructure Partners, an investment manager, said attempts to compete with IRA tax credits, even by wealthy Western countries, have been "drops in the bucket.
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發表於 2024-3-9 17:42:38