Economic Headwinds Threaten Biden's Clean Energy Goals
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Economic challenges like inflation and supply chain issues are making clean energy projects more expensive, threatening Biden's climate goals.
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Higher interest rates and costs have led companies like Ford and GM to scale back electric vehicle production plans.
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Offshore wind projects are facing significant setbacks, with several major developments canceled due to rising expenses.
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While most clean energy projects will likely still happen, higher costs mean delays and consumers paying more for renewable power.
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Officials remain optimistic about long-term growth in clean energy but admit near-term targets will be harder to achieve amid current economic conditions.