The Foreign Affairs Interview Can America Still Lead the Global Energy Transition?
Sep 19, 2024
Brian Deese, former director of the National Economic Council and key architect of the Inflation Reduction Act, dives into America's pivotal role in the global energy transition. He discusses the growing challenge posed by China's dominance in clean energy and the need for a diversified trading system. Deese advocates for a modern-day Marshall Plan to combat climate change and bolster U.S. energy initiatives. He also highlights the intersection of clean energy, technological innovation, and the urgent need for a cohesive national energy policy amidst rising demands.
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Geopolitical Context and Energy Transition
- The US-China competition influences foreign and domestic policy.
- The US needs to address climate change and the global energy transition.
China's Role in the Energy Transition
- A secure and sustainable energy transition requires a stable global trading system.
- China's dominance and non-market practices create an unstable equilibrium.
Progress and Challenges in Energy Transition
- Clean energy technology deployment has significantly improved, offering economic opportunities.
- Faster progress is needed globally, especially in emerging markets like India and Brazil.