President Joe Biden is this week celebrating the anniversary of his landmark Inflation Reduction Act, a highly significant piece of climate legislation for the country responsible for 15 per cent of global carbon emissions.
The IRA's investments carry the potential to accelerate the pace of the domestic energy transition and move the US closer to its target of a 50 per cent to 52 per cent emissions reduction by 2030, according to analysis from the Washington-based Atlantic Council.
“Undoubtedly, massive investments in key transition technologies within the world’s largest economy have global implications,” the analysis read.
But one year later, the effectiveness of its provisions and its global reception are still up for debate.
Ben Cahill, a senior fellow in the Energy Security and Climate Change Programme at the Washington-based Centre for Strategic and International Studies, told The National that, “in terms of international climate policy, the US is back in a serious way” and the IRA “has made incredible strides”.
For oil-producing countries in the Gulf, he says, the IRA's implications are nuanced, but ultimately “hold a lot of promise”.
“Some of the technologies and industries that are really a big focus of the IRA also feature heavily in the net-zero plans of the Gulf states and their national oil companies,” Mr Cahill said.
In the UAE, for example, Abu Dhabi National Oil Company recently brought forward its net-zero carbon emissions target by five years to 2045 in the run-up to Cop28.
At the same time, Washington's Gulf Co-operation Council partners are concerned the US is “overestimating the pace of the energy transition”.
The International Energy Agency's August report found that oil demand is “scaling record highs”.
And late last year, Washington responded with frustration after Opec announced it would slash its November output by two million barrels per day, the biggest production cut since the start of the pandemic in 2020 that led to a jump in oil prices.
“We've all been reminded of energy security and the importance of it in the last 18 months. For the Gulf states, they look at this past period as a cautionary tale. And they think we still have to continue investing in all forms of energy,” Mr Cahill added.
Analysis from the Rhodium Group suggests that the IRA’s domestic provisions will “ultimately reduce the cost curves for technologies like clean hydrogen and sustainable aviation fuels throughout the world”.
Investments in US-based clean energy have witnessed a boom in the past year.
A July report from the American Clear Power Association found that companies have invested more than $270 billion in US-based clean energy projects since the IRA became law – “equivalent to eight years’ worth of American clean energy investment … commissioned between 2015 – 2022".
And White House data shows that private companies have announced up to $503 billion in these “industries of the future”, including $231 billion in semiconductors and electronics, and $133 billion in electric vehicles and batteries.
“It shows the power of tax credits This is how we do energy policy in the United States. We make energy policy through tax credits,” said Mr Cahill.
The Rhodium Group analysis found that progress has positive implications for carbon goals outside the US, although its global impact “really picks up steam” after 2050.
“By the end of the century, the emerging climate technologies incentives (ECT) in the IRA are driving 401-847 million metric tonnes of CO2 of abatement each year on average outside the US … on a cumulative basis, the IRA ECT incentives included in this analysis reduce 2.4-2.9 tonnes of CO2 emissions outside the US for every ton they reduce within the US,” the report said.
Still, the full scope of the Biden administration's climate agenda, including the IRA and other related legislation, will only get Washington to 40 per cent of its emissions reduction target, warned Mr Cahill.
“That's a huge start, but it's obviously not enough … But because the US is such a big share of emissions and a big share of the global economy, [the IRA] really was a huge signal that these are serious investments and that a lot of capital is coming into them,” he said.
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
Miguel Cotto world titles:
WBO Light Welterweight champion - 2004-06
WBA Welterweight champion – 2006-08
WBO Welterweight champion – Feb 2009-Nov 2009
WBA Light Middleweight champion – 2010-12
WBC Middleweight champion – 2014-15
WBO Light Middleweight champion – Aug 2017-Dec 2017
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Ballon d’Or shortlists
Men
Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)
The Indoor Cricket World Cup
When: September 16-23
Where: Insportz, Dubai
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
UAE currency: the story behind the money in your pockets
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press
Indoor cricket in a nutshell
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
