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Precis

Spiking prices and the Russia crisis highlight the centrality of energy to our modern economy. No political leader who is seen as failing to deliver affordable, reliable energy today can survive in office long enough to successfully tackle climate change. But the evidence shows that society & policymakers don’t need to approach this as an ‘either-or’ proposition. We need to acknowledge the reality of the energy system today even as we work to change it rapidly. The current crisis gives us an opportunity to have a more realistic conversation about the role of energy in our lives AND the need for change. The failure of integrating climate policy and energy security/affordability in the past in the EU is forcing them now to consider policies going forward to address both simultaneously. The US so far emphasizes the objectives separately (and frequently seemingly in conflict with each other)—although we see early indications that this may be changing. We can set the stage for a successful transition IF we can acknowledge that we need a framework that drives a rapid transition while also providing the secure affordable energy society needs today.