American energy innovation’s big moment

T HE OPPORTUNITY to make the covid-19 recovery green has been squandered. A new analysis of over $14trn in pandemic stimulus, injected by 19 countries and the European Union, finds that just 6% went on programmes likely to cut emissions. America did particularly badly: hardly any of its $6trn splurge was climate-friendly. Perhaps the best that can be said for the catastrophe in Ukraine is that the ensuing energy crisis has provided an opportunity to reverse that failure.