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We are facing a global energy crisis caused by world population growth, an escalating increase in demand, and continued dependence on fossil-based fuels for generation. It is widely accepted that increases in greenhouse gas concentration levels, if not reversed, will result in major changes to world climate with consequential effects on our society and economy. This is just the kind of intractable problem that Purdue University's Global Policy Research Institute seeks to address in the Purdue Studies in Public Policy series by promoting the engagement between policy makers and experts in fields such as engineering and technology. Major steps forward in the development and use of technology are required. In order to achieve solutions of the required scale and magnitude within a limited timeline, it is essential that engineers be not only technologically-adept but also aware of the wider social and political issues that policy-makers face. Likewise, it is also imperative that policy makers liaise closely with the academic community in order to realize advances. This book is designed to bridge the gap between these two groups, with a particular emphasis on educating the socially-conscious engineers and technologists of the future. In this accessibly-written volume, central issues in global energy are discussed through interdisciplinary dialogue between experts from both North America and Europe. The first section provides an overview of the nature of the global energy crisis approached from historical, political, and sociocultural perspectives. In the second section, expert contributors outline the technology and policy issues facing the development of major conventional and renewable energy sources. The third and final section explores policy and technology challenges and opportunities in the distribution and consumption of energy, in sectors such as transportation and the built environment. The book's epilogue suggests some future scenarios in energy distribution and use.
The energy crisis of 1973-1974 was a pivotal event in twentieth-century American history. In the wake of the Vietnam War, it exposed the nation's economic vulnerability to foreign powers and precipitated an awareness of limits to the exploitation of natural resources. Further, it forced Americans and the American government in particular to think about the future of energy production and consumption in novel waysand made such thinking more imperative than ever. Twenty years later, questions about the energy crisis persist. What were the underlying causes of the crisis? What did we learn from it? How has it affected our current energy policies? Will another energy crisis occur in our future? In The Energy Crisis, David Lewis Feldman brings together a wide range of energy policy experts to address these questions and explore the appropriate role of governments and markets in ensuring a stable, economical, and sustainable energy supply. The authors locate the energy crisis in its historical context and find that, contrary to popular opinion, the Arab oil embargo was not responsible for the energy crisis. Rather, they contend, the crisis was caused by a series of short-sighted policy decisions meant to bring Americans cheaper energy and a cleaner environment. The contributors to The Energy Crisis conclude that the crisis was resolved by a combination of market forces and government intervention, and they offer perspectives on the need to sustain long-term interest in public/private partnerships in the face of short-term political and economic demands.
The energy price shock in 2022 led to government support for firms in some countries, sparking debate about the rationale and the nature of such support. The results from nationally representative firm surveys in the United States and Germany indicate that firms in these countries were generally resilient. Coping strategies adopted by firms included the pass-through of higher costs to consumers, adjustment of profit margins (United States) and investments in energy saving and efficiency (Germany). Firms in energy-intensive industries would have been significantly more affected if international energy prices were fully passed through to domestic prices in Europe. Survey responses further reveal that most firms are uncertain about the impact of recent policy announcments on green subsidies. Firms take advantage of fiscal incentives to accelerate their climate-related investment plans are often those that have previous plans to do so. These findings suggest better targeting and enhancing policy certainty will be important when facilitate the green transition among firms.
Reducing carbon emissions is the most complex political and economic problem humanity has ever confronted. Coping with the Climate Crisis brings together leading experts from academia and policy circles to explore issues related to the implementation of the COP21 Paris Agreement and the challenges of accelerating the transition toward sustainable development. The book synthesizes the key insights that emerge from the latest research in climate-change economics in an accessible and useful guide for policy makers and researchers. Contributors consider a wide range of issues, including the economic implications and realities of shifting away from fossil fuels, the role of financial markets in incentivizing development and construction of sustainable infrastructure, the challenges of evaluating the well-being of future generations, the risk associated with uncertainty surrounding the pace of climate change, and how to make climate agreements enforceable. They demonstrate the need for a carbon tax, considering the issues of efficiently pricing carbon as well as the role of supply-side policies on fossil fuels. Through a range of perspectives from academic economists and practitioners in the public and private sectors who work either at the country level or under the auspices of multilateral organizations, Coping with the Climate Crisis outlines what it will take to achieve a viable, global climate-stabilization path.