Good things are happening! Clean energy hits a major milestone. Plus, Exxon can’t use the courts to silence activists, rich people might lose a way to dodge taxes, efforts to fight a deadly disease get a shot in the arm, and another state makes amends for the war on drugs.
Clear Skies Ahead For Clean Energy
You know things are bad for fossil fuels when even capitalism is turning on you. Investments in clean energy will almost double that of fossil fuels this year, according to a new report from the International Energy Agency, an intergovernmental association of 31 countries originally founded to help regulate the global oil supply. Funding for clean energy first eclipsed fossil fuels in 2016, and the gap has been widening every year since then.
This year, according to the report, clean energy funding will also crack the $2 trillion mark for the first time, an amount that’s greater than the gross domestic product of all but 10 countries. In the United States, clean energy spending is predicted to increase to $315 billion this year, compared to $280 billion in 2023. Much of this investment comes from the 2021 bipartisan infrastructure bill and the 2022 Inflation Reduction Act, which together allocate $920 billion for clean energy.
