- The Department of Energy official said President Joe Biden’s pledge to cut emission in half this decade would cost $10 trillion.
- That’s the estimate of Jigar Shah, who is the director of DOE’s Loan Program Office, which dishes out money to companies working on new energy technologies.
- Under the misnamed Inflation Reduction Act, Shah’s budget ballooned from $40 billion to $400 billion. Shah said the private sector would have to foot the bill for roughly 90% of the $10 trillion.
