Dan Klein writes about energy security and the energy transition in RealClearEnergy.
- While many nations and companies have outlined emissions reduction goals, analysts project that emissions will increase in 2022.
- There are many positive signs including increased EV usage and new hydrogen projects coming online which indicate that our global energy transition is possible.
- As we look to shift to more zero carbon energy sources, it is important that we enact policies that keep energy affordable and reliable.
- To reach this goal, the Biden administration should pursue an “all of the above” energy approach that prioritizes energy independence and markets picking winners and losers..
“Policy decisions will not be uniform, and the path of the energy transition will undoubtedly be bumpy with fits and starts along the way. Coming out of COP26, policymakers pledged to strengthen 2030 emissions targets by the end of 2022 rather than waiting for the formal ‘stock taking’ process, but a greater focus on reducing methane leakage is likely an indication that governments are growing skeptical that fossil fuels can be displaced quickly. Additionally, midterm elections in the US could derail the Biden Administration’s environmental agenda, proving all politics, even international environmental politics, are local.”
Read the full article here.