Petronas CEO Tengku Muhammad Taufik believes that the U.S. Inflation Reduction Act’s (IRA) incentives for developing infrastructure to mitigate climate change will attract foreign investment to the U.S. and encourage other countries to invest in similar projects. At the CERAWeek energy conference, Taufik referred to the tax credits and funding for lower-carbon fuels and climate-warming industrial gases as effective measures to attract capital to the U.S. Meanwhile, Linde CEO Sanjiv Lamba also praised the IRA as a landmark legislation that provides momentum for developing climate solutions, particularly in the production of hydrogen gas for industrial uses.

Source: Reuters