The Fallacies of Subsidy

The IRA provides an immense amount of funding and subsidies, mostly for green technologies. Without this kind of big jumpstart, even if it's by way of a subsidy, we would not have the big global advance that we need to begin to tackle climate change. This is going to set back decarbonization. The rest of the world we need to decarbonize as well. We need India, Brazil, Mexico, Indonesia, the developing world as well as China. And if all the rich countries are together trying to promote their own industry...We're saying to them, you can never get independent,. You can never have the money to produce your own technology.