Some of the worst carbon emission come from heavy industry, so it’s a welcome development to see U.S. Steel attempting to capture carbon. Last week the Department of Energy announced $6 billion in funds to help clean up some of most intensive greenhouse-gas industries, including $1.5 billion to transform iron and steel manufacturing, but U.S. Steel, one of the biggest American steelmakers was not among the recipients.

It’s hard to remember the name of this law, because it actually doesn’t have anything to do with inflation but everything to do with addressing the climate crisis. The Inflation Reduction Act (IRA) is the largest investment in clean energy in the history of the world. It is the first significant exceleration towards a pathway to netzero, as it is designed to decarbonize the US economy, shore up supply chains, and reduce dependence on China.