Earlier this year, the Biden administration announced a historic deal to use Inflation Reduction Act cash to conserve nearly a billion gallons of water from the shrinking Colorado River through 2026. But a POLITICO investigation found that the federal money is driving up the payments for farmers and tribes to forego some of their water rights \u2013 and could make any long-term agreement to save the West\u2019s most important river far more expensive. POLITICO\u2019s Annie Snider breaks down exactly how the IRA is raising the conservation price tag. Plus, a new report from the United Nations says countries need to make deep emission cuts this decade in order to achieve the goals set under the Paris climate agreement.\n\nFor more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch\n\nAnd for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy\n\nCatherine Morehouse is an energy reporter for POLITICO and the host of the POLITICO Energy podcast.\nAnnie Snider covers water issues for POLITICO Pro. \nNirmal Mulaikal is a POLITICO audio host-producer. \nKara Tabor is an audio producer for POLITICO.\nGloria Gonzalez is the deputy energy editor for POLITICO. \nMatt Daily is the energy editor for POLITICO.