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 NordhausMaking big investments to get off oil, making clean energy alternatives widely available and cheap, and creating millions of new jobs in clean energy industries is a winner with American voters and can carry the whole suite of policies that we need to address global warming.
Ted NordhausIt is worth noting that virtually every alternative energy source we have - solar, wind, nuclear, and battery and fuel cell technologies for storage - resulted from public innovation and R&D, not private. The problem is that we haven't done enough of it, and we have done it inconsistently.
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 Nordhaus