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Debelle bemoans distortion created by Biden’s $US1trn green bill

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The Biden administration’s flagship green energy policy, the Inflation Reduction Act, is creating an uneven playing field for investment and luring more capital to US projects at the expense of other markets such as Australia, according to Fortescue Future Industries director Guy Debelle.

The hydrogen advocate and former Reserve Bank deputy governor also expressed concern that “there’s an incentive to wait” when it comes to domestic decarbonisation and the preference for purchasing carbon credits.

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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at jo.tran@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/debelle-bemoans-distortion-created-by-biden-s-us1trn-green-bill-20230215-p5ckoz