Where Big Oil Meets Big Green
View on The American Interest website"Richard Newell, now the president of Resources for the Future, has underscored what is needed for natural gas to 'be part of the climate solution, not part of the problem.' Perhaps most important, it is essential that natural gas substitute for coal. While this occurred seamlessly in the United States, the market does not necessarily ensure this will always be the case. With abundant natural gas, policies such as a carbon tax or a cap and trade system allowing companies or governments to trade allowances in carbon emissions, if designed correctly, can be cheaper to realize and can help ensure that it is coal—not renewables or other alternative energies—that lose out from a surge in natural gas."
