Authored by Bill Blain via MonringPorridge.com,

“You may think I’m a dreamer, but I’m not the only one…”

Biden’s Tax and Climate Bill is the closest thing to a grown-up energy transition plan we’ve seen in the West. There is a significant risk ESG fundamentalism trips up efforts to reach carbon neutrality – but there are signs pragmatism will win out.

It looks like US President Biden will get his long-awaited Tax and Climate Bill though the Senate after cutting a deal with holdout Democrat Senator Kyrsten Sinema. I like the her plans for a !% tax on stock buybacks (see yesterday’s porridge.)

At its core the new Bill looks like a proper long-term transition plan for the US economy to evolve away from fossil fuels towards cleaner technologies – including nuclear. It enables it to happen in a way

Keep reading this article on Zero Hedge - Blog.

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