Energy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.
Ted NordhausThe great successes of the modern environmental movement in the '60s and '70s had laid the seeds of their failure in the early years of the 21st Century. They had built institutions filled with lawyers and scientists well suited to lobby policy makers who basically shared their world view. This worked well when liberals controlled the Congress and much of the federal bureaucracy, and when the politics of the time were more supportive of active government efforts to regulate the economy and clean up the environment.
Ted NordhausWe don't make the investments we need to make, the sector fails to innovate, and then we conclude that it can't innovate.
Ted NordhausSkepticism about the potential to achieve the kinds of breakthroughs we need has been a self-fulfilling prophecy.
Ted NordhausAfter a brief couple of years in the late '70s, public funding for clean energy technologies dried up and has been on the decline ever since.
Ted NordhausEnergy is a sector of the economy that has been particularly resistant to innovation. This is precisely the problem. It is why we are still dependant on energy sources that are 100 to 150 years old while virtually every other sector of the economy has transformed itself. This is why we believe that the faith that many environmentalists still hold that carbon regulations and taxes will drive sufficient private sector investment into energy markets to create the kind of innovation we need is unfounded.
Ted Nordhaus