Environment & Climate Change

Now in its seventh edition, Economics of the Environment serves as a valuable supplement to environmental economics text books and as a stand-alone reference book of key, up-to-date readings from the field. Edited by Robert N. Stavins, the book covers the core areas of environmental economics courses as taught around the world; and the included authors are the top scholars in the field. Overall, more than half of the chapters are new to this edition while the rest have remained seminal works.

How much should the U.S. government invest on energy R&D, and where should those investments be focused? How can the government work with the private sector to accelerate energy innovation? This book addresses these and other important questions to meet the energy challenge with new analytical methods and data.

The development and deployment of cleaner energy technologies have become globalized phenomena. Yet despite the fact that energy-related goods account for more than ten percent of international trade, policy makers, academics, and the business community perceive barriers to the global diffusion of these emerging technologies. Experts point to problems including intellectual property concerns, trade barriers, and developing countries' limited access to technology and funding. In this book, Kelly Gallagher uses analysis and case studies from China's solar photovoltaic, gas turbine, advanced battery, and coal gasification industries to examine both barriers and incentives in clean energy technology transfer.

Energy policy is on everyone's mind these days. The U.S. presidential campaign focused on energy independence and exploration ("Drill, baby, drill!"), climate change, alternative fuels, even nuclear energy. But there is a serious problem endemic to America's energy challenges. Policymakers tend to do just enough to satisfy political demands but not enough to solve the real problems, and they wait too long to act. The resulting policies are overly reactive, enacted once damage is already done, and they are too often incomplete, incoherent, and ineffectual. Given the gravity of current economic, geopolitical, and environmental concerns, this is more unacceptable than ever. This important volume details this problem, making clear the unfortunate results of such short-sighted thinking, and it proposes measures to overcome this counterproductive tendency.

"The preceding chapters in this volume offer many excellent ideas on climate change; oil, transportation, and electricity policies; carbon capture and storage; and the generation of innovative energy solutions. Collectively, these papers provide the new presidential administration with a wide array of excellent policy suggestions. I will not add to this list or critique those that have been offered. Rather, I begin with the assumption that we have identified a useful, scientifically supportable agenda for changes in our energy policies. My goal is to describe the likely barriers to enacting these wise policies and present strategies for overcoming these barriers."

"Infrastructure investment is a common focus of energy policies proposed for the United States. Initiatives to improve energy security, meet growing demand, or address climate change and transform the structure of energy systems all anticipate major infrastructure investment. Long lead times and critical mass requirements for these investments present chicken-and-egg dilemmas. Without the necessary infrastructure investment, energy policy cannot take effect. And without sound policy, the right infrastructure will not appear. Acting in time to provide workable policies for infrastructure investment requires a framework for decisionmaking that identifies who decides and how choices should be made."

"The United States ought to be the leader of the world in the energy technology innovation that is needed. It has the largest economy, uses the most energy (and within that total the most oil), has made the largest cumulative contribution to the atmospheric buildup of fossil carbon dioxide that is the dominant driver of global climate change, has a large balance of payments stake in competitiveness in the global energy technology market as well as a large stake in the worldwide economic and security benefits of meeting global energy needs in affordable and sustainable ways, and possesses by many measures the most capable scientific and engineering workforce in the world. The actual performance of this country in energy-technology innovation, however, has been falling short by almost every measure...."

"This chapter proposes to answer five fundamental questions: What exactly is the oil security problem, and how serious is it going forward? Why has it emerged at this point in time, and why has it been so difficult for the U.S. government to take the actions needed to mitigate it? Finally, what alternative policies are likely to be effective as the United States attempts to improve its oil security in the future?"