Power prices are expected to soar under new tax cut and spending law
In states without policies to drive renewable energy, power prices could surge as federal tax incentives for clean energy disappear, according to Energy Innovation, a think tank.
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In an op-ed for Roll Call, Center Program Director Richard Nephew and Elizabeth Rosenberg of the Center for a New American Security argue that it is far preferable to conclude a deal with Iran that addresses enrichment concerns via direct diplomacy and that a move to sanctions measures could compromise any chance to resolve the nuclear issue peacefully. However, they note that since sanctions may be necessary if a deal is not reached, it is prudent for Congress and the Administration to initiate contingency planning on an effective strategy and legal authorities to respond in the event that Iran cannot conclude a deal or cheats after it is agreed.
The report outlines five foundational choices if a stockpiling strategy is adopted, as bipartisan support suggests is possible.
The war with Iran shows why hopes for energy independence are inadequate.
The European Commission published a proposed regulation on June 17 to end Russian gas imports by the end of 2027.