Going To War With The Democrats You Have

Democrats managed to pass the Inflation Reduction Act, which is a much-reduced version of Build Back Better. While it is a far cry from what voters were promised or even what is needed to fight climate change it is a larger investment than we've ever had. So is it a good bill?

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Image Credit, Gage Skidmore

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Image Credit, Senate Democrats

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I think it's very easy to get caught up in the idea that this is the biggest thing that we have ever experienced. and it's probably the only thing that we've ever passed in terms of climate. Factually it's true. It is the biggest thing we've ever done. It is and looks if you measure it through just the very top line. of like in it really does depend on you know what you perceive to be the point of a bill like this. which is reducing our carbon emissions. there are a bunch of different ways in which you can go towards that. and this is obviously because of the nature of our government and our society at this point like one of the most sort of market-based ways that you can do it. now there is a huge amount of government investment involved in this. and the returns are there in terms of emissions. so I was trying to get that. we see the returns in terms of emissions. but we're not necessarily there in terms of what we get beyond that. well, we saw it from the chips bill too right? which is just like you know we want to do that's more of a straightaway giveaway where we're going to give billions of dollars for this kind of manufacturing. this puts it more in consumers' hands I guess. but I feel like there's a lot of you know faith in the market and demand side economics there that is I don't know I hope it works. I just want you to know that to be fleshed out before we hail this is the greatest thing since sliced bread. Yeah and and and and I think it's hard to assess what impacts our politics. What will impact our politics in terms of having or the oil industry maybe not be as prominent 10 or 15 years ago 10 or 15 years from now? maybe you know Exxon is at that point. like they have transitioned into solar and wind. and they have an outsized influence on our government because they're an outsized corporation. it's very hard to assess these things. an alternate in an alternate world but one and this was never in build back better and we should also remind you. In an alternate world, the US government says we're not going to incentivize people to build solar farms. we're going to build solar farms. and we're not going to incentivize people to provide a prevailing wage. we're just going to pay a prevailing wage. and to the extent that we need fossil fuels we own those industries now. and we decide that. it's not based on whims. exactly. There is a lot to like but that's not where we're at. and Remember that Rumsfeld quote you go to war with the army you have. exactly. It's like you go to war with the democrats you have. and this is what you would expect from the democrats who currently have. yes and and and and and with that said look if we can get to a 50% reduction by 2030 that's a big deal. It's a big deal in terms of sort of one of the primary concerns which are to try and help the world not go through a massive upheaval in terms of civilization. yeah, also no hover crafts are included in this legislation which sucks.