https://issuesinsights.com/2023/11/09/so-hows-that-historic-investment-in-clean-energy-paying-off/
Anyone following the news might be confused by recent talk of offshore wind projects in trouble, automakers pulling back on EV production, and now multi-billion-dollar bailouts for the green-energy industry. How could that be, since President Joe Biden and his fellow Democrats rammed through $370 billion in “clean” energy subsidies a little more than a year ago?
When Biden signed the criminally misnamed “Inflation Reduction Act” in August 2022, he boasted that it was “the most aggressive action ever — ever, ever, ever — in confronting the climate crisis and strengthening our economic — our energy security.”
So-called green-energy companies, not surprisingly, were ecstatic.
“Americans can now rest assured that our leaders have acted to lower costs, strengthen American energy independence, and create hundreds of thousands of well-paid jobs, all while combatting the damaging impacts of climate change,” George Hershman, CEO of SOLV Energy, a solar developer, said at the time.
Has anyone checked up on those promises recently? Well, let’s see:
Lower costs? Electricity prices are up 3% since Biden signed that bill into law, and up 24% since he took office. Overall energy prices are unchanged compared with August 2022 and are up 44% since January 2021.