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Unforeseen Consequences of the IRA on Environmental Spending
The passage of the IRA significantly altered the discourse around regulations for environmental projects, with early estimates suggesting $391 billion in spending. However, a closer look revealed that the actual costs might exceed a trillion dollars. This realization prompted a shift in focus from spreadsheet modeling to the practical challenges of implementing physical infrastructure. The need for easier and faster project approvals became evident to facilitate the construction of essential energy infrastructure, whether clean energy or traditional oil and gas projects.