The IRA’s New Conventional Wisdom

When the Inflation Reduction Act was first up for consideration in 2022, it received scant support from corporate America, including the oil-and-gas sector. So it may come as a surprise that it was almost an applause line when John Podesta, the senior Biden administration official charged with implementing the law, told a gathering of energy executives in Houston last week that the law is here to stay. “If you’re a politician who wants to turn your back on your community,” Podesta told the crowd.