« Links for 02-01-16 | Main | 'Changes in Labor Participation and Household Income' »

Monday, February 01, 2016

Paul Krugman: Wind, Sun and Fire

 "We can have an energy revolution even if the crazies retain control of the House":

Wind, Sun and Fire, by Paul Krugman, Commentary, NY Times: So what’s really at stake in this year’s election? Well, among other things, the fate of the planet.
Last year was the hottest on record..., climate change just keeps getting scarier; it is, by far, the most important policy issue facing America and the world. ...
Most people who think about the issue at all probably imagine that achieving a drastic reduction in greenhouse gas emissions would necessarily involve big economic sacrifices. This view is required orthodoxy on the right, where it forms a sort of second line of defense against action, just in case denial of climate science and witch hunts against climate scientists don’t do the trick. ...
But things are actually much more hopeful than that, thanks to remarkable technological progress in renewable energy.
The numbers are really stunning..., the cost of electricity generation using wind power fell 61 percent from 2009 to 2015, while the cost of solar power fell 82 percent. These numbers ... put the cost of renewable energy into a range where it’s competitive with fossil fuels. ...
So what will it take to achieve a large-scale shift from fossil fuels to renewables, a shift to sun and wind instead of fire? Financial incentives, and they don’t have to be all that huge. Tax credits for renewables that were part of the Obama stimulus plan, and were extended under the recent budget deal, have already done a lot to accelerate the energy revolution. The Environmental Protection Agency’s Clean Power Plan, which if implemented will create strong incentives to move away from coal, will do much more.
And none of this will require new legislation; we can have an energy revolution even if the crazies retain control of the House.
Now, skeptics may point out that even if all these good things happen, they won’t be enough...
But I’d argue that the kind of progress now within reach could produce a tipping point, in the right direction. Once renewable energy becomes an obvious success and, yes, a powerful interest group, anti-environmentalism will start to lose its political grip. And an energy revolution in America would let us take the lead in global action.
Salvation from climate catastrophe is, in short, something we can realistically hope to see happen, with no political miracle necessary. But failure is also a very real possibility. Everything is hanging in the balance.

    Posted by on Monday, February 1, 2016 at 08:18 AM in Economics, Environment, Politics | Permalink  Comments (129)


    Comments

    Feed You can follow this conversation by subscribing to the comment feed for this post.