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@politics on kbin.social is a magazine to share and discuss current events news, opinion/analysis, videos, or other informative content related to politicians, politics, or policy-making at all levels of governance (federal, state, local), both domestic and international. Members of all political perspectives are welcome here, though we run a tight ship. Community guidelines and submission rules were co-created between the Mod Team and early members of @politics. Please read all community guidelines and submission rules carefully before engaging our magazine.

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"Bidenomics" - Biden's vision for economic growth 'from the middle out and bottom up' aims to move beyond 'trickle down' economics (www.nbcnews.com)

submitted 2 years ago* (last edited 2 years ago) by [email protected] to c/[email protected]

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President Joe Biden will tout his economic agenda in remarks Wednesday as he campaigns for a second term amid low polling numbers on his job performance and the direction of the country.

The president’s plan, which the White House dubbed “Bidenomics,” aims to “move beyond” the “trickle down” economic theory that it says disproportionately benefits the wealthy and big corporations through tax cuts while reducing investment in priorities such as infrastructure and education, and failing to protect market competition.

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[–] [email protected] 2 points 2 years ago (1 children)

https://grist.org/energy/inflation-reduction-act-oil-gas-leases-federal-land/

[–] [email protected] 1 points 2 years ago (1 children)

I mean, you picked a great source because that spells out why the administration made that agreement. Oil and gas doesn't want the land. It is not profitable for them to use and they already leased more than they'll ever need.

What you're talking about is politics. The headline says "OIL FIRST!" And it gives the conservatives something to take home to their voters. They can go say "yea, so Biden got the IRA with climate spending, but we got oil first pick baby!!!"

Meanwhile, it's nothing of substance and the emission reductions as a whole are far more impsctful. It makes no difference because the land leases aren't going to oil anyway, they don't want it. The article you link has multiple experts saying that....

[–] [email protected] 1 points 2 years ago

I think youre misunderstanding, its not just that the bill requires land be auctioned for oil and gas, but that leasing land for renewable energy is not allowed until more land is auctioned to oil and gas first. That means energy demand will still be met with oil and gas energy, regardless of where its from.