PublicationJournal Article Countercyclical energy and climate policy for the U.S.

Published:
November 10, 2015
Author(s):
Publication Type:
Journal Article
Abstract:
Con­tin­u­a­tion of the U.S.s his­tor­i­cal pat­tern address­ing energy prob­lems only in times of cri­sis is unlikely to cat­alyze a tran­si­tion to an energy sys­tem with fewer adverse social impacts. Instead, the U.S. needs to bol­ster sup­port for energy inno­va­tion when the per­ceived urgency of energy-​​related prob­lems appears to be reced­ing. Because of the lags involved in both the energy sys­tem and the climate sys­tem, decar­boniz­ing the econ­omy will require extra­ordinary per­sis­tence over decades. This need for sus­tained com­mit­ment is in con­trast to the last several decades, which have been marked by volatil­ity and cycles of boom and bust.  In con­trast to the often –repeated phrase that one should never let a good cri­sis go to waste, the U.S. needs to most actively fos­ter energy inno­va­tion when aspects of energy and cli­mate prob­lems appear to be improv­ing. We describe the ratio­nale for a coun­ter­cycli­cal approach to energy and cli­mate pol­icy, which involves pre-​​commitment t o a set of poli­cies that go into effect once a set of trigger con­di­tions are met.
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