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US Economy

Exxon’s CEO Supports Inflation Reduction Act

TL/DR - Saudi Aramco CEO Amin Nasser has urged global leaders to "abandon the fantasy of phasing out oil and gas." ExxonMobil CEO Darren Woods supports this, stating that alternative solutions like wind and solar power and the rise of electric vehicles are important but not enough for the energy transition, suggesting that broader solutions such…
US Economy

Biden, Congress to Tackle China’s Threat to Inflation Reduction Act

TL/DR - The Inflation Reduction Act has triggered substantial investments in the U.S. renewable energy sector, however, the Chinese Communist Party's efforts could undermine these investments and threaten U.S. energy independence. According to the article, China currently controls 72% of solar grade polysilicon and 99% of solar wafer supply…
US Economy

Wilson, Duncan Reject Inflation Reduction Act

TL/DR - The Inflation Reduction Act was passed in the US without any support from the Congressional delegation of Aiken County, with US Rep. Joe Wilson among the 207 Republicans voting against it. The bill includes measures to fight climate change and extend the Affordable Care Act, enforce greater tax regulation, introduce a 15% minimum…
US Economy

Maximize Farm CI Score Cash-In with Inflation Reduction Act

TL/DR - The 45Z tax credit, part of the Inflation Reduction Act and due to go into effect on January 1, 2025, is expected to increase the value of farmers' Carbon Intensity (CI) scores. The tax credit is linked to the amount of carbon intensity, with two cents per gallon offered for every point an ethanol plant can get below 50 on their CI score.…