<p>Treasury Secretary <a href="http://dailywire.com/topic/janet-yellen" target="_blank" rel="noopener">Janet Yellen</a> lauded the <a href="https://www.dailywire.com/topic/inflation-reduction-act" target="_blank" rel="noopener">Inflation Reduction Act</a> on Tuesday for producing $430 billion in spending to modernize the American <a href="http://dailywire.com/topic/energy" target="_blank" rel="noopener">energy</a> system.</p>
<p>The legislation, <a href="https://www.dailywire.com/news/biden-signs-740-billion-inflation-reduction-act" target="_blank" rel="noopener">signed</a> by President Joe Biden last month, bankrolled various <a href="http://dailywire.com/topic/climate-change" target="_blank" rel="noopener">renewable</a> power subsidies and tax credits. During a <a href="https://home.treasury.gov/news/press-releases/jy0976" target="_blank" rel="noopener">speech</a> delivered at Cypress Creek Renewables, a solar power producer in North Carolina, Yellen said that the law will “accelerate the transition to our green energy future and lower energy costs for American households and businesses.”</p>
<p>“For decades, the world has been too slow to act. But strong action by the federal government is finally here,” she remarked. “While there is much more to do, I believe we now have a clear and robust plan forward. I am confident about the direction of the sustainable future that we are building together.”</p>
<p>Among other measures, the Inflation Reduction Act greenlit electric vehicle tax credits of $7,500 for new cars and $4,000 for used cars, as well as 30% tax credits for home solar energy systems, according to a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/16/fact-sheet-how-the-inflation-reduction-act-builds-a-better-future-for-young-americans/" target="_blank" rel="noopener">fact sheet</a> from the White House. Meanwhile, Yellen said that business tax credits will further “push down the costs of clean energy production.”</p>
<p>“Government must provide the basic foundations and long-term certainty that businesses need to invest at scale and drive the transition toward a clean energy future,” she contended. “In large part due to concerted government investment, costs for key renewable energy technologies have already seen declines upwards of 75% over the past decade.”</p>
<p>Although the costs of renewable energy have been decreasing, nonrenewable fuels are often the most inexpensive source of electricity, according to an <a href="https://www.iea.org/reports/projected-costs-of-generating-electricity-2020" target="_blank" rel="noopener">analysis</a> from the International Energy Agency. While coal and natural gas have median costs of $88 per megawatt-hour and $71 per megawatt-hour, respectively, commercial solar power and geothermal energy cost $94 per megawatt-hour and $99 per megawatt-hour, respectively.</p>
<p>“Over the past two years in particular, we’ve seen the direct consequences of our continued dependence on fossil fuels. Not only do we continue to contribute and subject ourselves to a rapidly warming climate,” Yellen continued, “but we expose ourselves to the type of energy market volatility we’ve experienced in the wake of Russia’s brutal war on Ukraine. No country controls the wind and the sun. And countries that can harness those sources of energy will make their economies more resilient and secure.”</p>
<p>Rapid increases in energy prices have caused much of the inflation observed over the past two years. However, Biden has advanced renewable energy policies while <a href="https://www.dailywire.com/news/biden-administration-severely-cuts-back-on-oil-and-gas-leases" target="_blank" rel="noopener">leasing</a> the lowest amount of federal land for oil drilling since the conclusion of World War II and <a href="https://www.dailywire.com/news/keystone-pipeline-dead-killed-by-biden-thousands-of-jobs-lost" target="_blank" rel="noopener">nixing</a> expansions to the Keystone XL pipeline project. Energy prices increased nearly 24% between August 2021 and August 2022, according to <a href="https://www.bls.gov/news.release/cpi.nr0.htm" target="_blank" rel="noopener">data</a> from the Bureau of Labor Statistics.</p>
<p>Ahead of upcoming nationwide midterm elections, the economy and inflation are key issues among voters, with 84% considering the former to be a top factor influencing their ballot. The Republican Party leads the Democratic Party by a 16% margin and a 19% margin with respect to trust on handling the economy and inflation, respectively, according to a <a href="https://www.dailywire.com/news/new-midterm-poll-spells-bad-news-for-democrats-on-the-economy" target="_blank" rel="noopener">poll</a> from ABC News and The Washington Post.</p>
<p>The national average price of gasoline was $2.38 per gallon when Biden assumed office and <a href="https://www.dailywire.com/news/gas-prices-are-1-50-higher-since-biden-took-office-cnn-business-america-got-a-raise" target="_blank" rel="noopener">increased</a> to $3.53 per gallon by the start of the Russian invasion of Ukraine. After surpassing <a href="https://www.dailywire.com/topic/gas-prices" target="_blank" rel="noopener">$5.00 per gallon</a> in early June, prices have subsided to $3.75 per gallon as of Tuesday, according to <a href="https://gasprices.aaa.com/" target="_blank" rel="noopener">data</a> from AAA.</p>

<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script>
<script async src="https://www.instagram.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

‘No Country Controls The Wind And The Sun’: Janet Yellen Touts Hundreds Of Billions In Climate Spending

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Biden Administration

Economy

Energy

Inflation Reduction Act

Janet Yellen

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

‘No Country Controls The Wind And The Sun’: Janet Yellen Touts Hundreds Of Billions In Climate Spending