But the energy market is its own beast, subject to politics but also beholden to economic, technological, environmental, and international forces. Here are five elements to watch in Year One of Trump Two.
The IRA: Democrats entered 2021 debating how many trillions of dollars of subsidies would feature in a climate bill. Four years later, they brace for how much of the (shrunken) legislation that ultimately passed will survive.
Three things offer them grounds for cautious hope. First, Trump's earlier trifecta, in his first term, didn't deliver a death blow to the Affordable Care Act, a prior GOP bête noire. It's just hard to remove federal benefits once enacted — which leads into the second factor: Cleantech investment and jobs spurred by the Inflation Reduction Act flow overwhelmingly to red districts. Third, Republicans' House majority is razor-thin.
This story is from the December 27, 2024 edition of Financial Express Ahmedabad.
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This story is from the December 27, 2024 edition of Financial Express Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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emissary he had deployed. Although sceptical, I bounded off to North Block and was ushered in. It was my first official meeting with the FM. I conveyed the request, not a direction, of the prime minister. Dr Singh was puzzled — I could see that on his face — by the message or, perhaps, the messenger. He listened politely and told me that the second step had already been taken within minutes of the markets opening at 10 am.
