As Americans face $5 per gallon at the pump and warnings of 50 percent increases to their home heating bills this winter, the country is getting a taste of the risks of a poorly managed energy transition. One of the scariest parts of transitioning away from fossil fuels is the risk that governments will fail to manage the delicate dance between winding down supply and demand. Lower supply too fast without ramping up clean options in parallel, and people who still rely on fossil fuels — which right now is pretty much everyone — will face energy shortages and sky-high prices.
As gasoline prices flew up over the last few months, Republicans from fossil fuel–rich states, such as Senator John Barasso from Wyoming, began exploiting that fear by condemning President Joe Biden’s climate policies. In a recent speech on the Senate floor, Barasso laid into Biden for his “attack on American energy,” naming the president’s cancellation of the Keystone XL pipeline, the administration’s temporary pause on oil and gas leasing, and a recent report from the Department of Interior recommending higher fees for drilling on federal lands.
But while these actions might... Read more