Why Big Oil Is Now Fighting to Keep the Inflation Reduction Act Alive. In the wake of the IRA, the oil industry has invested at least $128 billion in renewable fuel, carbon capture, and similar technologies, and expects a large return on those projects in the form of tax credits.

Why Big Oil Is Now Fighting to Keep the Inflation Reduction Act Alive



by mafco

9 comments

  1. The dumbest timeline: ExxonMobil becomes the savior of renewable energy

  2. So big oil is doing what they should have been doing for 30 years and will be upset if we’re not paying for it. Do you think the cost is factored into the sell price of the product regardless of tax credits?

  3. The carbon capture part is a big let down.

    This greenwashing scheme should never get taxpayer subsidies.

    The entire thing incentivizes more pollution. **A LOT MORE**

  4. Been saying this since day one. Big oil has evolved. Its last boom and bust forced diversification of revenue. The current fracking revolution is not “drill baby drill” it’s much more complex and nuanced. The SOS being Rex Tillerson was low key brilliant until they realized the complexity of modern oil exceeded right wing ultra regarded slogans.

  5. Almost like everyone with a brain and an eye for where the money and tech in the world is going wants green energy. Only buffoons like trump that only know trendy words want to stop the train of progress. 

  6. Lol big oil wants to continue to control everything and let the local one continue to be out of business you idiots. Local oil and gas and local alternatives creates the most jobs.

    So now liberals support big oil and gas, the big oil and gas usually buy cheap oil any where and sells into the US at a premium price, the consolidate smaller companies and reduced competition and jobs.

    You guys are idiots china and India pollutes the most and the atmosphere is not flat eventually other countries air becomes ours 😂

  7. You can get rid of the bamboo that Biden planted. Eventually and at great expense.

  8. > the oil industry has invested at least $128 billion in renewable fuel, carbon capture, and similar technologies, and expects a large return on those projects in the form of tax credits and publicly funded subsidies.

    They’ve convinced me….. that we should kill the tax credits and subsidies! Just for renewable fuels of course, not all of them.

  9. Mr butthurt can’t let any President have accomplishments. But he has concepts of plans

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