@alizaidi46 on the role of climate office: We must remain focused on the political economy of what it takes to succeed, not just be greenhouse gas accountants.
Panel on heavy industry decarbonization, with @Ben_Beachy, Christina Walrond, @hebahkassem , and Kevin Dempsey of @aisisteel, who notes the US steel industry is among the cleanest in the world, but that virgin steel will still be needed (and that probably requires CCUS).
By 2024, candidates like Sherrod Brown will be able to point to actual new factories and jobs up and running, @TimRyan tells @mwilli.
Mike asks Ryan if he feels hope.
"Man, I was in Congress for 20 years. Hope is an emotion I need to reconnect with." (Laughs)
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Yep, these are some of the biggest investments (including I believe the biggest one?) in US history, and rightly require suites of complementary policies and inputs.
This is economic development, not just widget maximization.
On the list of things I am worrying about, governors not returning Intel's calls is not up there.
If that starts happening, or if firms that get subsidies dither or misuse resources, there are tools the feds have to fix this. rooseveltinstitute.org/publications/p…
We should
A) Recognize governments in democracies are responsible for multiple objectives
B) Optimizing across these objectives are features, not bugs, of public investment, as @STOmarova and I wrote here for @DemJournal.
"The US has adopted a simple strategy that immediately incentivises businesses to invest while the EU is coming with a political framework that lacks precise elements and misses simple, clear cut reasons for businesses to invest,” said Belgian chemicals company Solvay CEO.
"They don’t fund the building of a plant. They fund the day you start operating through tax breaks, so you actually make a profit,” he said. “The US has a business case and Europe makes a law . . .”
Companies are facing a choice:
The IRA's Bottomless Mimosas or EU's more austere, airplane rules drink maximum.
This year's World Economic Forum in Davos, Switzerland turned at times into a freeform airing of grievances by EU lawmakers over Biden's Inflation Reduction Act and the impact it could have on EU producers. politico.com/news/2023/01/1…
But it also revealed the makings of a more productive race-to-the-top dynamic, with the European Commission outlining its own take on the IRA. ec.europa.eu/commission/pre…
When I had just defended my dissertation and was on the job market, @ErikVoeten encouraged me to try to develop some of my arguments around #ISDS for a policy audience. It ended up becoming a section of my book Judge Knot. washingtonpost.com/blogs/monkey-c…
A year later, I was able to continue that line of work and analysis by looking at how trade rules were upending North American energy markets. washingtonpost.com/news/monkey-ca…