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The supply-side solution developed in the Bright Lines exercise, drawing on Bill Hare's Greenpeace International paper "Climate Protection: The Carbon Logic" (PDF), won little support from first readers. It is included in this proposal as a concept to be explored because no other solution could be determined to meet the dictates of the climate timeframe -- and the strong responses it provokes are evidence of its strong narrative value.
A supply-side response -- imposing a cap on extractions in 2015 with 10 percent reductions at 5 year intervals until emissions are stabilized at pre-industrial levels, as shown in the accompanying chart, for example -- is the ideal climate policy. A cap and phase-down would set clear market parameters for fossil fuels phase-out and establish future economies of scale for renewables and efficiencies, encouraging early investment and driving innovation. Capping extractions would, in effect, move forward the global response to exhaustion of oil and gas reserves, a great challenge even if climate change were not a problem.
