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 – and could make any long-term agreement to save the West’s most important river far more expensive. POLITICO’s 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.   For more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy   Catherine Morehouse is an energy reporter for POLITICO and the host of the POLITICO Energy podcast. Annie Snider covers water issues for POLITICO Pro.  Nirmal Mulaikal is a POLITICO audio host-producer.  Kara Tabor is an audio producer for POLITICO. Gloria Gonzalez is the deputy energy editor for POLITICO.  Matt Daily is the energy editor for POLITICO.