Energy Security cannot be forgotten in the global energy transition
Written By: Jack Mintz and Ron Wallace
Published: Macdonald-Laurier Institute
Published: Macdonald-Laurier Institute
ENERGY SECURITY CANNOT BE FORGOTTEN IN THE GLOBAL ENERGY TRANSITION
A new paper by Jack Mintz
and Ron Wallace warns that
overly rapid transitions to
net zero will invite serious
unintended consequences.
OTTAWA, ON (April 12, 2022): While achieving greater energy efficiencies and reducing green house emissions sound reasonable, we need to examine how these goals will be accomplished and the consequences of doing so. Many government policies focus solely on environmental concerns – but at what cost?
OTTAWA, ON (April 12, 2022): While achieving greater energy efficiencies and reducing green house emissions sound reasonable, we need to examine how these goals will be accomplished and the consequences of doing so. Many government policies focus solely on environmental concerns – but at what cost?
In MLI’s latest paper titled “The
global energy transition
confronts East vs. West
realpolitik: Why energy
security matters,”
Jack Mintz and Ron Wallace
evaluate the West’s efforts to
curtail fossil fuel use through
decarbonization. The paper
brings to light how current
energy transition policies in
North America and Europe are
problematic as they ultimately
undermine economic, energy and
national security.
>From power interruptions and supply shortages to geopolitical instability, the consequences of a rapid transition are becoming more apparent by the day. The authors highlight the essential role that energy plays in promoting economic resilience and regional security – important considerations that slip out of view when environmental issues are prioritized.
>From power interruptions and supply shortages to geopolitical instability, the consequences of a rapid transition are becoming more apparent by the day. The authors highlight the essential role that energy plays in promoting economic resilience and regional security – important considerations that slip out of view when environmental issues are prioritized.
“Global decarbonization has
developed considerable momentum
and is supported by many
political and financial
leaders,” write Wallace and
Mintz. “These actions to limit
or abolish carbon emissions
assume that energy transitions
are straightforward, even
inevitable, and that alternative
energy solutions can provide
practical, adequate, sustained,
and secure energy supplies.
“However, limiting production of fossil fuels in the West at rates faster than can be reasonably and economically replaced with alternative power would lead to market instabilities, power interruptions, and price increases.”
Russia’s invasion of Ukraine has brought these challenges to the forefront. As the authors note, in the mission to reduce fossil fuel production and use, Europe has only made itself reliant on Russian energy. Meanwhile, Canada continues to pursue policies to curb hydrocarbons. With a limited additional supply and inadequate infrastructure, there is no capacity to backfill against Russian oil and gas, meaning that authoritarian governments will continue to hold sway over energy-dependent democracies.
“However, limiting production of fossil fuels in the West at rates faster than can be reasonably and economically replaced with alternative power would lead to market instabilities, power interruptions, and price increases.”
Russia’s invasion of Ukraine has brought these challenges to the forefront. As the authors note, in the mission to reduce fossil fuel production and use, Europe has only made itself reliant on Russian energy. Meanwhile, Canada continues to pursue policies to curb hydrocarbons. With a limited additional supply and inadequate infrastructure, there is no capacity to backfill against Russian oil and gas, meaning that authoritarian governments will continue to hold sway over energy-dependent democracies.
The authors find this troubling,
writing that “policies that call
for overly rapid transitions to
net zero may have consequences
that are anything but orderly –
or peaceful.”
As Mintz and Wallace conclude, “energy transition policies in North America may increasingly be viewed as working to undermine both energy and national security in the continent, as have clearly occurred throughout Europe.”
To read the full paper, click the button below.
As Mintz and Wallace conclude, “energy transition policies in North America may increasingly be viewed as working to undermine both energy and national security in the continent, as have clearly occurred throughout Europe.”
To read the full paper, click the button below.
Ron Wallace
is a former CEO of a Canadian
defence manufacturer and
subsequently served on
federal, provincial and
territorial energy and
environmental regulators,
including the National Energy
Board. He is a Fellow of the
Canadian Global Affairs
Institute and a Board member
of the Canada West Foundation.
Jack Mintz, CM, is the President’s Fellow at the University of Calgary’s School of Public Policy and Distinguished Fellow, Macdonald-Laurier Institute.
Jack Mintz, CM, is the President’s Fellow at the University of Calgary’s School of Public Policy and Distinguished Fellow, Macdonald-Laurier Institute.
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