After years of failed attempts to pass major legislation to combat climate change, the U.S. Senate’s Inflation Reduction Act is poised to become the largest U.S. climate legislation in history. The bill would divert nearly $370 billion to climate and energy security measures, aimed at slashing greenhouse gas emissions by around 40% by 2030 and curbing consumer energy costs at the same time. read more Much of the spending would go to new or expanded tax credits to promote clean energy generation, electrification, energy efficiency and wider adoption of electric vehicles. A good chunk of the bill, however, is also devoted to supporting fossil fuel development by protecting federal drilling auctions and supporting upgrades of coal and gas facilities – concessions required to win over West Virginia’s Democratic Senator Joe Manchin […]