Fight climate change with markets, not government

The energy policy of the current administration has two major flaws. First, it significantly overestimates the ability of existing renewable energy technology to reliably and cost effectively replace long-established fossil-fuel based technology to meet global energy demand. Second, it significantly underestimates the increase in global greenhouse gas emissions by countries back-filling this demand using inferior energy technologies, including those based on coal.

Climate change is real and needs to be addressed, but one cannot simply flip a switch and expect global energy demand to be met with alternate technologies not proven at the same cost and scale as the technologies they are replacing.

Environmentalists need to understand that significant greenhouse gas reductions are still possible in the near term simply by replacing oil and coal with natural gas. indeed, the us has achieved the greatest greenhouse gas reduction of any country since 1990 via this route. Longer term, we should continue to develop and scale up renewable energy technologies, preferably through market forces and not by government subsidies.

As counter-intuitive as it may sound, the fastest and most efficient way to reach global greenhouse gas targets, to reduce soaring energy prices, and to bring inflation under control is to re-open US-based oil and gas production. By doing so — and letting the global oil market work as intended — cleaner US-based oil and gas will displace and possibly even shut down dirtier foreign-based coal, oil, and gas sources.

Fred Clark

Wheaton