Associated Press: "Climate Bill's Unlikely Beneficiary: US Oil and Gas Industry"
A widely syndicated piece in the Associated Press includes an analysis by RFF Fellow Brian Prest on the oil and gas provisions in the Inflation Reduction Act.
Other bill provisions that focus on renewable energy and capturing carbon dioxide from industrial plants would result in net emission reductions 10 to 50 times greater than emission increases from burning more oil and gas, analysts say.
The increase in oil and gas emissions still could be substantial — as much as 77 million to 110 million tons (70 to 100 million metric tons) of additional carbon dioxide annually by 2030 from new leasing, according to economist Brian Prest with the research group Resources for the Future.
