Margo Thorning, ACCF Senior Vice President and Chief Economist has said the following in response to Obama’s State of the Union address:
“Why doesn't the Obama administration continue to expand the world of the previous Administration’s Major Economies Initiatives to transfer technology to curb emissions, increase energy efficiency among the large emitting nations?
“Pinning our hopes for addressing climate change on an agreement with the Chinese to reduce emissions is less useful than continued efforts to exchange best practises and spread the adoption of less emitting technologies. Addressing climate change and cutting GHG emissions requires a global approach. Transferring clean technology for fossil fuel and nuclear power generation as well as exporting LNG to developing nations makes economic and environmental sense.
“Furthermore, federal mandates and taxpayer funded subsidies for the use of renewable energy divert society’s resources from more productive uses.
“Industry has made significant progress in reducing methane emissions through voluntary programs. It’s important that those steps receive appropriate credit in any regulatory agenda proposed by the administration. Companies should be rewarded for early action, not punished.”
Edited from press release by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/special-reports/11022015/energy-agenda-response/