Climate change and other environmental factors

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Reference no: EM133595655

Question: Reduce Department of Energy funding for energy technology development.

Reduce Department of Energy funding for energy technology development. Various Department of Energy programs support research and development of new technologies in fossil fuels, nuclear power, energy efficiency and renewable energy. This option would eliminate efforts to support the later stages of technology development and demonstration of commercial feasibility without touching the department's support of basic and early applied research. Critics argue these programs are of questionable value. Supporters say federal support is needed because the prices that businesses and consumers pay for energy do not reflect the large long-run environmental costs, thus DOE's programs fill a gap unmet by the private Effect on deficit: -$20 billion.
Supporters Say

These technology development programs are of questionable value and DOE should concentrate on basic research in those fields, which is less likely to be undertaken by the private
Direct market feedback to private investors has proven more cost-effective than relying on the judgment of government managers in selecting which technologies will be commercially
Opponents Say

Federal support is needed because the prices that businesses and consumers pay for energy do not reflect the large long-run costs of climate change and other environmental factors. Consequently, there is little incentive to manufacture or purchase products that reduce energy consumption or lower greenhouse gas emissions. Thus, DOE's programs fill a gap unmet by the private market by providing the resources and incentives to develop new
Panels convened by the National Academy of Sciences have estimated that some of DOE's technology development programs, especially in energy efficiency, have provided substantial benefits that exceed their costs. In addition, energy is one of the many sectors in which people other than investors also benefit from the knowledge Federal support helps ensure that adequate R&D takes place.

Reference no: EM133595655

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