Why isn’t Big Oil up in arms about the climate-friendly Inflation Reduction Act?

Payne Institute Director Morgan Bazilian contributed to this podcast about how there’s a lot of stuff baked into the 755-page Inflation Reduction Act, which was approved in the Senate and is expected to pass in the House. Top of mind for many is the nearly $370 billion set aside for energy transition and climate change mitigation. In fact, some are calling the Democrats’ measure the biggest piece of climate legislation in U.S. history.  On the surface, that sounds like it could be bad news for traditional fossil fuel companies, specifically Big Oil and Gas. But believe it or not, some of them sound fairly encouraged by the bill.  August 8, 2022.