How The Inflation Reduction Act Will Benefit The Oil Industry

A few years ago, carbon capture was an eccentric, massively expensive way of reducing emissions, or so the talking point went. By 2022, carbon capture had in fact become one of the few ways in which oil companies could defend themselves against the onslaught of accusations of being the sole perpetrators of climate change.

And then the Biden administration decided to support that. For many environmentalists, the participation of the oil and gas industry in the transition is not simply impossible because of the very nature of the business but also…