The IRA expected to be signed today is expected to cut ~1B tons of carbon by 2030. But a key compromise in securing Manchin’s vote was continuing federal oil & gas leasing. How much does this matter to the overall emissions cuts?

New @rff blog post:
resources.org/common-resourc… This is actually a very complex question deserving a nuanced answer. Why? Two reasons: baselines and whether we’re considering just US or global emissions effects.

New @rff working paper w/ @AlanKrupnick! Have you heard of the ~$1 billion federal subsidy for burning coal? It’s a $7/ton tax credit for the use of “refined coal”, which is normal coal that has been sprayed with chemicals meant to make it burn cleaner. But does it work? 1/22 First, some background: refined coal barely existed in the U.S. 10 years ago, but now it makes up more than 20% of power sector coal & growing. At least 140 million tons of this stuff was burned in 2018 (see EIA Form 923). $7/ton * 140 mln tons = ~$1 billion in tax credits! 2/22