Foreign Policy Live
The Future of Clean Energy
Dec 20, 2024
John Podesta, President Biden’s Senior Advisor for International Climate Policy, discusses the precarious future of clean energy amidst political shifts. He dives into the wonders and critiques of the Inflation Reduction Act, which catalyzed nearly $500 billion in clean energy investments and aimed to revitalize marginalized communities. Podesta also navigates the complexities of U.S. clean energy policies against a backdrop of increased global competition, particularly with China, and stresses the importance of a worker-driven transition as the nation faces new challenges.
33:04
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Quick takeaways
- The Inflation Reduction Act has mobilized nearly $500 billion for clean energy initiatives, creating over 330,000 jobs and fostering bipartisan support.
- The Biden administration's focus on economically disadvantaged regions seeks to ensure an equitable transition to clean energy amidst ongoing climate diplomacy.
Deep dives
Significant Climate Investments
The Inflation Reduction Act has been pivotal in driving substantial investments in clean energy in the United States, with nearly $500 billion earmarked for various projects and the creation of over 330,000 jobs. This initiative represents the largest investment in climate change and clean energy in U.S. history. Despite prominent criticisms regarding high oil and gas production levels, the act has fostered a bipartisan movement toward cleaner energy solutions. The growth of solar power as the leading new generation source exemplifies this shift, indicating a broad acceptance and support for clean energy initiatives among the public.
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