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IEA urges US to use pricing to combat energy challenges
Washington (AFP) Feb 15, 2008 The International Energy Agency on Friday called on the United States to do more to curb energy use and fight global warming, saying pricing was the most important mechanism to curb demand. The world's biggest economy and energy consumer has made progress toward a more sustainable energy system but is lagging behind other industrialized countries and even developing countries such as China in some areas, the IEA said in a report. The IEA, which advises the US and 26 other members on international energy policies, acknowledged the challenge of changing the habits of Americans who are used to abundant resources and cheap energy prices. "To address the multiple challenges that United States energy policy is facing, the price mechanism is the most important tool," said the report "Energy Policies of IEA Countries -- United States 2007 Review." "The government should use it, by abolishing fossil fuel subsidies and creating taxation or other pricing regimes that internalize environmental costs." The current US policy for low energy prices "is leading to forecasts of demand that are unsustainable, and creates significant security and environmental risks not just for the United States, but also for the rest of the world," the Paris-based agency warned. The IEA welcomed Congress's passage in December of the first tightening of CAFE vehicle fuel-efficiency standards since 1975, which calls for a 40 percent increase in the fuel standard to 35 miles per gallon by 2020. But it said the standards remain weak, and noted relatively little improvement in fuel economy since 1996. "In general, in the field of vehicle efficiency, present policy goals in the United States are too timid to lead to the achievement of the cost-effective efficiency potential in the vehicle sector," said the report produced in conjunction with the Organization for Economic Cooperation and Development (OECD). The IEA said the transport sector was key to achieving the country's energy security and sustainabilty. The IEA is an autonomous agency under the framework of the 30-nation OECD. Community Email This Article Comment On This Article Related Links
North American Power Generation Construction Costs Rise 27 Percent In Last 12 Months
Houston TX (SPX) Feb 15, 2008The costs that drive the rates that power customers pay have been going up dramatically, according to the new Power Capital Costs Index (PCCI) developed by IHS and Cambridge Energy Research Associates (CERA) and introduced at the CERAWeek 2008 conference in Houston. |
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