Clearly energy policy with all its implications for the economy, national security, and foreign relations is one of the largest challenges facing the new Obama Administration. While the overall economy will receive larger attention, the nation is at a point where substantial changes must be implemented to change the direction of energy development and resource exploitation from the strong pattern of the last 28 years towards one that is sustainable, secure, economically beneficial, and substantially less environmentally detrimental and harmful. The window for enacting legislation to reflect a more progressive and enlightened energy policy is limited, and those with the entrenched benefits and successes of the past will fight hard to prevent any new direction.The major thrust of the next energy policy should include some of these important elements, as discussed in the oil drum energy issues website:
1)Put a floor on energy prices. The marginal barrel is killing future production. However, wait 6 months or so in doing this. Then the market will show you how many of these 'alternative energies' are actually viable, given that we don't have accurate energy input output data. However, if oil (and particularly natural gas) prices remain below average cost for long, depletion is going to roar its head beyond what we can judiciously manage.
2) Scale wind turbines everywhere that they can be scaled as soon as possible. On a long term basis they are a far better investment than new money towards oil or natural gas. But that means moving away from liquid fuels in a timely fashion. (Wind has added benefit of not increasing water requirements for electric vehicles)
3a) Focusing energy policy and social change on anthropogenic global warming is at best a half-measure and at worst could have negative repercussions, for two reasons: First, if there is a cold winter or three for whatever reason, and in a period of severe economic hardships high quality energy is being used to mitigate GHGs that might be spent on other needs then the populace may quickly lose their buy-in to carbon taxes etc. and behavioral change that were enacted DUE to global warming. But more importantly: it removes focus and responsibility from the larger problems we face: as long as we compete for conspicuous consumption, the non-GHG externalities from more consumption will increase to offset GHG reduction policies (kind of like quitting drinking and taking up sugar – 'serotonin deficiency' is root cause not alcoholism). In sum, we should definitely be concerned about our impact on planetary ecosystems (our nest) and what toxins we emit, but this should be part of a larger science based roadmap not the entire roadmap. This will have the positive externality of mitigating climate change as well!
3b) On the spectrum of carbon taxes, cap and trade ,etc. consider gradually introducing a consumption tax instead. Subsidize basic needs and severely tax Veblen goods.
4)Gradually move to 100% reserve requirements in the banking system. Creating money (and debt) only partially out of thin air is preferable to completely out of thin air. The definition of 'gradually' would need to be explored..
5)On what may seem peripheral and brand me as a moonbat, I would seriously consider taxing or eliminating altogether refined sugar products, and refined carbohydrate foods in our grocery stores and convenience stores and changing to more local food production/availability. In addition to having an obesity epidemic that is accelerating, sugar has now been shown to be a gateway drug (Hoebel, Princeton) and chronic use results in low serotonin levels which in turn increases discount rates which has been shown to increase agents penchant to choose what they want/need today at a cost to the future. Exactly the opposite of what we need. (So a meaningful chunk of both basic needs procurement and behavioural change can be accomplished by moving away from industrial ag and towards more locally intensive food production). If you can't or won't go this far, instituting national exercise programs (like in Naperville IL), would also pay neural dividends
6)In the same vein, tax or eliminate the gambling industry, indian casinos, Vegas, online poker rooms etc. The easy access millions of young people worldwide have to online poker contributes (as do many things) to hijacking our neural dopamine highways, which we then habituate to and consume more in other areas. People will continue to gamble anyways but at least the revenues will filter locally. Most neuroscientists and evolutionary biologists would agree we are not 'intelligent' enough to overcome the smorgasbord of impulses offered. I recommend reading "American Mania" by Dr Peter Whybrow at UCLA or contacting him directly.
7) Eliminate leverage on Wall street. Yes this will remove 'income' opportunities, but it will deter future volatility, and inherently transfer human talent into more productive sectors.
*In addition, continued and increased incentives should be in place for solar energy development, particularly as technological improvements continue to rapidly increase the efficiency of the devices as well as lower its cost and size. Most single family homes, particularly in the primarily sunny parts of the nation in the High Plains, Mountain West, Pacific West, and Sunbelt, now can be completely powered with solar energy with an investment that can be subsidized by tax and energy policy imperatives.
The future of the planet, our nation, and the lives of young childen today when they grow into adulthood are at a minimum the stakes that are in play.
http://www.theoildrum.com/node/4957#more
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