Energy Innovation and Avoiding Policy Complexity: The Air Capture Approach

Timothy A. Fox
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Timothy A. Fox: Head of Energy and Environment, Institution of Mechanical Engineers, London, SW1H 2JJ, United Kingdom

Energy & Environment, 2012, vol. 23, issue 6-7, 1075-1092

Abstract: Access to secure and affordable energy has underpinned the rise of civilisations since human history began. When such sources become threatened with unavailability, societies that attempt to meet the challenge by adding increasing levels of sociopolitical complexity to energy policy find themselves in a state of decline. When an era of this type presents itself, the need is for innovation, not complexity. In our current epoch of rapidly growing energy demand and increased environmental risk from continued fossil fuel usage, the international political community has reacted not by innovating, but by adding complexity. This paper argues that, through the harnessing of market forces, the removal of carbon dioxide from the atmosphere offers a way to unlock innovative approaches to maintaining access to affordable energy. It concludes that governments should learn lessons from history and adopt this paradigm shift in thinking, so as to meet global energy aspirations while reducing environmental risk.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:engenv:v:23:y:2012:i:6-7:p:1075-1092

DOI: 10.1260/0958-305X.23.6-7.1075

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