Full Title: Maintaining the Advantage: Why the U.S. Should Not Follow the EU’s Energy Policies
Author(s): Robert Bryce
Publisher(s): Manhattan Institute
Publication Date: February 1, 2014
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Description (excerpt):
Over the past decade, the United States and the European Union have taken markedly different approaches to the electricity markets that power their economies. Seeking drastic reductions in carbon emissions, the EU has emphasized rigid and extensive mandates, market interventions (including a “cap and trade” regime to reduce emissions), and subsidies aimed at promoting renewable energy. The U.S. government, as well as numerous states, while also promoting renewables and seeking lower emissions, has interfered far less. U.S. electricity markets operate more freely than their European counterparts. So, too, do other U.S. energy sectors. This has contributed to the recent boom in extraction of both oil and natural gas in the U.S.