Christopher M. Matthews, Collin Eaton, and Benoit Faucon of The Wall Street Journal write on the root causes of the global energy crisis.
- The world’s energy challenge has been exacerbated by fewer investments in fossil fuels and a government-led push for exclusively renewables.
- The energy crunch has highlighted the need to accelerate energy innovation by investing in energy R&D, eliminating red tape, and reducing market distorting tax credits.
- Additionally world leaders should begin to embrace and recognize nuclear power as a source of clean energy.
- As the world looks to address global climate change, policy leaders must adopt solutions that reduce emissions while providing affordable and reliable power to consumers.
“The transition figures to be challenging for years to come, energy executives and analysts say, due to a stark reality: While fossil fuel investment is falling, fossil fuels account for most energy—and green energy spending isn’t growing fast enough to fill the gap.”
Read the full article here.