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President Biden thanked Joe Manchin on Tuesday when signing the misnamed Inflation Reduction Act. As well he should. The West Virginia Senator provided the crucial Senate vote and the advertising that it is an “all of the above” energy bill. The truth is that it’s a renewables-above-all bill that will raise U.S. energy prices and make energy and electricity supplies less secure.
“With this law, the American people won and the special interests lost,” Mr. Biden said Tuesday. Just the opposite. The bill’s $370 billion in climate spending provides a panoply of tax credits for wind, solar, carbon capture, hydrogen, biofuels, critical minerals, sustainable aviation fuel, green-energy manufacturing and battery storage, among other things.
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