Smart Energy Policy: An Economist's Rx for Balancing Cheap, Clean, and Secure Energy
While everyone wants energy that is clean, cheap, and secure, these goals often conflict: traditional fossil fuels tend to be cheaper than alternative fuels, but they are hardly clean or (in the case of oil) secure. This timely book provides an easy-to-understand explanation of the issues as well as sensible proposals for a truly sustainable energy policy. Economist James Griffin points out that current energy policies are fatally flawed and that government policies should focus on getting the prices right so that the prices of fossil fuels reflect their true costs to society--including greenhouse gas and security costs. By using carbon and security taxes, alternative energy forms will be able to compete on a more even playing field against fossil fuels. This will unleash advances in alternative energy and conservation technologies enabling the marketplace and consumers to find the right balance among energy sources that are cheap, clean, and secure.
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aﬀected allowances barrels per day bathtub beneﬁts carbon abatement carbon emissions carbon tax cartel cheap clean development mechanism clean energy climate change CO2 concentrations CO2 emissions coal command-and-control consumers corn-based ethanol costs crude oil diesel fuel diﬀerent economic eﬀects eﬃciency eﬀorts emitters energy policy ﬁnd ﬁrms ﬁrst ﬁve ﬂow ﬂuctuations fossil fuels future gallon global warming Griﬃn growth higher oil prices inﬂation investments Kyoto Protocol long-run Middle East million barrels natural gas non-OPEC oﬀers oﬀset oil companies oil consumption oil production oil security tax oil supplies OPEC OPEC’s percent of world playing ﬁeld power plants price increases price shock price spike problem proﬁts reduce reﬁneries reﬁning reﬂect revenues rise Saudi Arabia secure energy shown in ﬁgure signiﬁcant signiﬁcantly sour crude oils sources speciﬁc subsidies sulfur supply disruption sweet crude oils tax credits technologies tion trade United West Texas Intermediate world GDP world oil market worldwide