The bill spends enormous amounts on carbon capture projects that have historically produced lackluster results. It throws even more good money after bad on “clean hydrogen”, an absolute sinkhole of R&D over the last two decades. And then there’s the large investment in battery technology that’s… definitely better than the first two, but still relies on the kind of enormous strip mining and chemical processing projects that got us in the fossil fuels mess to begin with.
$12B on various kinds of carbon capture and $9.5B on hydrogen and another $6.5B on battery advancements, relative to the $0.4B spent on new renewable energy projects. Even our deplorable bankrupt nuclear programs get $2.5B, relative to technologies that have seen some of the best ROI on energy production since the ICE was invented.
Like, sure. Blah blah Trump Worse. But the Infrastructure Reinvestment Act is not a good bill by any other standard than “Better than what Republicans wanted”. Its the same bad California Tech Sector pipe dream ideas we’ve been flushing money down the toilet on since Bill Clinton was President.
I want to see another country or region beat us
You’ll find a line around the block. Spain’s sinking $89B in a renewable overhaul of its grid. France has been doing donuts around the US on nuclear power since the 70s. Italy’s completely overhauling its rail infrastructure (something Americans rip up more often than they rebuild) to use HVDC power.
Where the US tends to lead the pack is in private investment and that’s largely because Solar and Wind power built using cheap foreign imported steel and photovoltaics, have turned our decrepid electricity infrastructure into a gold mine of overpriced retail power. (Something new trade war restrictions may curtail in the next presidency).
The paradox in this is the threat that public investment and efficiency improvements in the grid threaten those profits. If you go around hooking up the fifth-gen molten salt nuclear power stations to an updated smart-balanced American grid, you’re going to tank the incomes of a litany of energy companies.
Nobody with a revenue stream coming from sky high auction-priced electricity coming of the Texas ERCOT system, for instance, wants us to slaughter the golden goose that is $3000 MWh peak electricity prices.