Houston, TX

Will Hydrogen Bomb? And Other Ways Government Energy Spending Could Backfire

HOUSTON – Billions of dollars’ worth of government investment designed to accelerate “clean energy” initiatives may be rendered moot if lawmakers in the United States fail to consider a basic tenet of supply and demand: getting supplies delivered to those who demand them...

In general, the Inflation Reduction Act (IRA) passed in July is “a bad idea because it is going to add to the inflation,” she said.

Still, there are opportunities to allocate funds productively.

“Deploying capital to those projects [leading] to employment production of goods and services in terms of energy in our case, and therefore bring supply and demand, supply money and supply and services into balance, is going to bring down the inflation in the long term,” Novakovic said.

“That's the only way out.”

Novakovic compared the U.K.’s Energy Security Bill, which was also passed in July, with the IRA, finding the methodology of spending in both problematic.