“We were told that the IRA would give us cheap ‘green’ energy for ‘only’ $400 billion in subsidies. In reality, the IRA has a limitless price tag due to its; 1) limitless number of years, 2) limitless dollars per year, 3) limitless harm to our grid.” fossil-fuel expert Alex Epstein “- How Greening the Economy Will Destroy America
Looting the US Economy? The IRA Inflation Reduction Act
The lucrative, loophole-laced IRA, the laughably named “Inflation Reduction Act” that was signed into law by Biden may just mark August 16, 2022 in the history books as a date that will live in infamy.
Biden’s Democrats (and his other one-world government handlers) had him sign H.R. 812 into law on that day. But responsibility for launching this massive pork barrel crosses party lines in a way that brings to mind Ayn Rand’s characterizations of “uniparty looters” since the bill was originally sponsored and introduced by Tennessee Republican Rep. Andrew Ogles [R-TN-5].
Why would a traditional coal state representative such as Ogles buck his own party’s line? It’s likely that Ogles’ corporate constituents in the fossil-fuel sector at home in Tennessee can rake in massive funds from subsidies granted to NOT mine and burn coal at the essential power stations that would ensure a robust grid. Like farmers paid not to grow crops, energy companies can be paid off in IRA incentives to shut down even benign, low-emission energy sources such as thermal and liquid natural gas.
In his eye-opening article of April 23, 2023, Lew Rockwell pulled no punches exposing the various trickery and deceit of the IRA with its bogus $400 billion price tag, the likes of which makes the lavish 2 trillion dollar pork-fest of the CARE act look like a bedtime snack. That’s because “open-ended” IRA subsidies may go on for 26 years at least, with the excuse of failing to meet unachievable 2050 “carbon-zero” benchmarks. If by then the greenster agenda still hasn’t succeeded, they are certainly prepared to subsidize, and subsidize again ad infinitum.
Biden, Ogles, and the IRA subsidy machine they unleashed after a 51-50 Senate vote last summer, are the culmination of a relentless greenster propaganda campaign that would make Nazi propaganda master Joseph Goebbels proud, a green media blitz on the public that’s been going on for decades.
Decades of Green Propaganda May Pay Off in Decades of a US Economy in the Red
Like the choking off of the vital Keystone Pipeline, Biden takes every opportunity to weaken the vital US fossil-fuel economy at the bidding of his greenster WEF overlords. These dubious elitist brain trusts include such intellectually challenged “thought leaders” as third-generation Nazi descendant Klaus Schwab. The Lex Luthor look-alike got an F on his propaganda report card for the arrogant blunder of announcing to the world’s population that they would “own nothing and be happy”.
We think not Klaus.
But while the notorious Schwab represents the totalitarian side of the green-utopian thinking, American Democrats aren’t far behind, marching in lockstep with Schwab at the infamous World Economic Forum.
Representing American green hipster doofuses everywhere, and one of the best-known greenwashing poster boys, we have the venerable self-proclaimed inventor of the internet Al Gore; whose specialty is leaving hefty carbon footprints behind him wherever he goes, as his private jet zooms around the globe, campaigning in a mighty effort to get you to reduce your own tiny carbon footprint.
Gore was overjoyed over the fact that companies are gobbling up the green IRA subsidy pie, as he celebrated recently with Schwab and other WEF cronies, a bottom-of-the-barrel think tank that certainly earns its nickname as the “Weird Elite Fraternity.”
But Gore is only a product of his generation. All the green washing pseudo-science and “carbon-zero” propaganda that has been blitzing the American and world public since the first “Earth Day”, with its bizarre and laughable predictions from the Seventies, and the ongoing piling on of “global warming” fear-mongering for decades afterward, won’t be easy to overcome.
As Nazi propaganda master Joseph Goebbels once preached, “Tell a lie often enough, and repeat it often enough, and the people will believe anything.”
Or will they, when the inevitable consequences of reckless green porkfest legislation with no cap on subsidies manifest themselves over the next few years?
The IRA is set up to dole out more funds indefinitely as long as the emission reduction benchmarks haven’t yet been met. Leave it to Washington to come up with a way to reward lack of performance with loopholes like these:
- CBO and partisan analysis projected that the IRA’s green energy and climate provisions would cost less than $400 billion over a decade is a severe under-estimate. Goldman Sachs’ own analysis warns that uncapped subsidies could easily balloon up to $1.2 trillion, and that’s just for the first 10 years.
- Solar and wind investors are incentivized by the IRA to purchase only particularly costly solar panels and wind turbines manufactured in the high-cost hostile environment of US regulations, which results in higher subsidies for every project.
- The Wall Street Journal Goldman Sachs estimate states that IRA tax credits will cost tens to hundreds of billions more than the CBO estimated for the first 10 years. This includes almost $400 billion of additional EV subsidies alone and over $80 billion more for inadequate solar and wind electricity generation.
In the meantime, the diesel-reliant sectors of industry are bracing for a barrage of new green restrictions that are arguably practical for the “all-electric transition” in the passenger EV sector, but could be a disaster when applied to the requirements of heavy industry logistics in the US.
The Diesel Reliant Economy- The Future is Far From Certain
76% of all commercial trucks are powered by diesel engines and 70% of the nation’s freight tonnage is moved by good old diesel horsepower. But as quickly as the diesel manufacturing sector meets admirable emission reduction benchmarks they’re always hit with more.
“Today’s [diesel] trucks are so low in emissions that it would take 60 new trucks to generate the same emissions as a single truck manufactured in 1988!”- Diesel Technology Forum
According to the recent report at Diesel Technology Forum, emissions from new heavy-duty diesel trucks and buses were reduced by an impressive 95% for nitrogen oxides (NOx), an ozone precursor, and a laudable 90% for particulate emissions. All that with a 5% improvement in fuel efficiency.
Perhaps uber green Al Gore should trade in his private green campaign jet for a diesel-powered tour bus.
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