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Balance Eludes US on Energy Security, Transition

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Surging oil prices amid inflation and Russia’s invasion of Ukraine have amplified energy security issues globally, posing another hurdle for countries trying to navigate long-term clean energy transition goals. But nowhere has the pace toward an energy transition appeared more muddled than in the US, even with the Biden administration's embrace of a bold climate agenda. Juxtaposed against the track taken by other major oil and gas producers Norway and Canada, Biden’s climate goals have been choked by hyper-polarized political discord, making for a rockier transition pathway. Biden officials have been clear that the administration wants to see short-term oil and gas supply ramp up to address the price surge while remaining committed to an accelerated long-term transition to clean energy. US Energy Secretary Jennifer Granholm recently said that “only clean energy” offers a “viable and medium- and long-term solution” to energy security pressures like the Ukraine crisis. But any messaging from the administration that near-term energy security actions can co-exist with transition goals has gotten lost in translation amid intense polarization, particularly around climate and energy.

Topics:
Low-Carbon Policy, Oil Prices, CO2 Emissions, Carbon Capture (CCS), Electric Vehicles
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