A Looming Political Earthquake
The Inflation Reduction Act’s unprecedented climate spending – much of it uninvestigated – may soon lead to unprecedented scandals. Eye on the News Politics and law, Economy, finance, and budgets , Infrastructure and energy Mark P. Mills Nov 04 2024 If it weren’t for the election season swamping news coverage, odds are more people would be talking about the revelation that, to quote a Bloomberg headline, “The World Bank Somehow Lost Track of at Least $24 Billion.” In fact, that may understate the reality: the World Bank’s “accounting gap” could be as big as $41 billion. The missing funds in question were for “climate finance” projects, “financed by taxpayer dollars from its member countries, the biggest being the US.” According to the Oxfam report that was the source for the Bloomberg story, “ There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible.” It is possible that much, maybe eve