PORTLAND PRESS HERALD • August 31, 2022
While many environmentalists argue that the Inflation Reduction Act – which authorizes $369 billion in climate and energy incentives – is either not enough or contains too many compromises, it’s a very strong step in the right direction. The dollars authorized by the act will go much farther than in the past. In addition, the private sector will step up and the U.S. now has the credibility to ask other countries to step up and take action. The current market conditions favor renewables. The act also supports manufacturing. Analysts project that 9 million jobs will be created as a result. Finally, the EPA is authorized to regulate greenhouse gases. The costs of not taking action to address the climate crisis would be far more than the incentives in the bill. Plus, the bill includes specific mechanisms designed to more than offset its costs. ~ Susan Inches, North Yarmouth