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US Economy

Biden Admin Puts $1M into Arctic Climate Research

TL/DR - The U.S. Commerce Department and the National Oceanic and Atmospheric Administration (NOAA) have allocated $1 million to enhance Arctic climate data collection, particularly in Alaska, which is warming faster than any other U.S. region. The funds come from the 2022 Inflation Reduction Act and will be used to gather grant proposals from…
US Economy

Over a million electric vehicles sold in the US this year

TL/DR - In 2023, Americans purchased a million fully electric vehicles (EVs) marking the first time that many EVs have been sold in the US in a year. The increase in sales is attributed to the increased variety of EV models available and the Inflation Reduction Act that offers tax credits for EV purchases. Despite the rise, EVs only accounted for…
US Economy

Green Economy Needs More Than Just Subsidies

TL/DR - Green industrial policies such as massive subsidies have managed to overcome some political obstacles hindering climate policymaking. However, the limitations of this approach are evident in the inability to bring climate targets within reach while solely relying on subsidies, and the public backlash against new restrictions. A…
US Economy

U.S. draft rules could exclude Aussie critical minerals from IRA subsidies

TL/DR - The US government has drafted rules that prevent businesses with stakes held by Chinese investors from receiving subsidies under the U.S. Inflation Reduction Act (IRA). The rules apply to enterprises "owned by, controlled by, or subject to the jurisdiction or direction" of China, Russia, North Korea, or Iran, with the upper limit for both…