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A Smart Energy PolicyAn Economist's Rx for Balancing Cheap, Clean, and Secure Energy$
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James M. Griffin

Print publication date: 2009

Print ISBN-13: 9780300149852

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300149852.001.0001

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A Smart Energy Policy

A Smart Energy Policy

(p.147) Chapter 6 A Smart Energy Policy
A Smart Energy Policy

James M. Griffin

Yale University Press

This chapter outlines an economist's perspective, a smart energy policy. Major technological advances are going to be necessary if we are to substantially alter the current energy mix. To achieve these advances, the right prices for energy should be obtained, which means adopting an oil security tax and a carbon tax. This alternative offers a radical departure from current policies. To gain traction with the general electorate, congressional leaders must be able to explain in simple terms why getting the prices right is both a simple and a smart energy policy. Once the policies have been adopted, policymakers must then be patient, resisting the temptation to react to each new hurricane or upheaval in the Middle East. They must recognize that markets have been phenomenal providers of new energy technologies and will, given time and the right prices, obtain the desired balance between cheap, clean, and secure energy.

Keywords:   energy policy, energy mix, oil security, carbon tax, markets, secure energy

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