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.
33:59
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Quick takeaways
- The U.S. must enhance international collaboration in the clean energy transition to effectively counter China's dominance in global supply chains.
- A tailored approach for clean energy accessibility and affordability in emerging economies is crucial to accelerate the global transition amid climate challenges.
Deep dives
The Need for a Clean Energy Marshall Plan
The clean energy transition is positioned to become the largest capital formation event in human history, surpassing even the Industrial Revolution. To achieve this, a significant amount of clean energy infrastructure must be developed, especially in light of the looming threats posed by climate change and the rise of China. The Inflation Reduction Act (IRA) was a monumental step towards fostering clean energy investment in the U.S., yet it did not sufficiently address the need for international collaboration. A clean energy Marshall Plan is proposed as a solution to fill this gap and support global efforts in climate change mitigation and energy transition.
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