On November 5th Americans will vote for their next president. This election can feel like déjà vu, as the two main candidates are the same as in 2020. According to current polls and reports, the race is expected to be tight. The first debate is scheduled for June 27th and might help inform voters – or not.
We at ADI, are however, kicking off our analyses of the presidential election and its implications on oil and gas, energy, and chemicals. It is a bit early for ADI’s usual blog summarizing the proposed energy policies of President Joe Biden and the Republican nominee, Donald Trump, but we aim to address some questions we’ve been hearing from our clients. In this blog, we address a recurring question: How will the Presidential Election affect the Inflation Reduction Act (IRA)?
The IRA represents the largest investment in clean technology and climate change mitigation in U.S. history. Despite facing unanimous opposition from the Republican members of U.S. Congress during the voting process, the IRA has since proven to be a significant economic stimulus. Since its passage the total capital investments sum up to ~$130 billion, with 83% being in batteries and electric vehicles manufacturing and 14% directed towards clean electricity production like solar and wind, as shown in Exhibit 1.
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About ADI Analytics
ADI is a prestigious, boutique consulting firm specializing in oil and gas, energy transition, and chemicals since 2009. We bring deep expertise in a broad range of markets where we support Fortune 500, mid-sized and early-stage companies, and investors with consulting services, research reports, and data and analytics, with the goal of delivering actionable outcomes to help our clients achieve tangible results.
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