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Economic crisis and energy policy at a crossroad Energi og økonomi 17/3 2009

Economic crisis and energy policy at a crossroad Energi og økonomi 17/3 2009. Frede Hvelplund Department of Development and Planning, Aalborg University. Oil price development 1970-2008. Economic crisis!. US oil import and the economic crisis.

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Economic crisis and energy policy at a crossroad Energi og økonomi 17/3 2009

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  1. Economic crisis and energy policy at a crossroadEnergi og økonomi 17/3 2009 Frede Hvelplund Department of Development and Planning, Aalborg University

  2. Oil price development 1970-2008 Economic crisis!

  3. US oil import and the economic crisis

  4. More an economic/ecological crisis than a financial crisis The economic crisis is mainly caused by the increased fossil fuel/oil dependency The fossil fuel/oil dependency is also causing the climate change problems. Clearly the weak financial institutions boosts the economic- and climate problems!!

  5. Lack of sustainable energy policy:The common cause of economic crisis and climate crisis Climate crisis Lack of sustainable energy policy Economic/financial crisis

  6. Market reactions hampering green tecnological innovation

  7. The rise and fall of oilprices

  8. The rise and fall of coal prices

  9. The rise and fall of CO2 prices

  10. Financial crisis The rise and fall of willingness to finance houses, projects etc.

  11. Economic crisis and climate policy Tendency to wrong economic paradigm: “Due to the economic crisis we cannot afford implementing sustainable energy technologies.”

  12. The vicious circle of present climate, energy and financial policy hampering green tech. innovation Falling prices on fossil fuels Climate crisis Worsened Lack of sustainable energy policy Collapsed carbon markets Increased Economic/financial crisis Collapsed financial system Worsened The task is to break this vicious circle!! “wrong” problem understanding and political will/ability (tendency)

  13. Problem: Momentary falling prices on fossil fuels hindering stable innovation conditions for sustainable energy technologies.Solution:Oil tax keeping oil prices at (for instance) minimum 120 US$ per barrel.Similar solution for other fossil fuels.

  14. Problem: Lack of “green techn”. financing Solution: Public quaranty for investment in sustainable energy technologies. (Just a small fragment compared to the present quaranties to the banks, but directly linked to projects. Has been used succesfully for Danish district heatiing projects)

  15. Problem:Collapsed CO2 markets destroys stable markets for sustainable energy technology innovation.

  16. Economic crisis and the systemic failure of the present “amount” quota system. Quota price per tonnes CO2 Quota supply (Growth) Quota supply (Recession) Quota price economic growth Quota price economic recession Quota demand (Growth) Quota demand ( Recession) This price reduction/oscillation hampers green energy innovation seriousely !!

  17. The need for energy “efficiency” quotas (Example!!).

  18. Efficiency quotas versus the present amount quotas.

  19. The “good circle” climate, energy and financial policy Stable consumer prices on fossil fuels Climate crisis Reduced Sustainable energy policy Stable CO2 costs due to efficiency quotas Lack of Economic/financial crisis Reduced Public quaranty on “green energy” loans. The vicious circle has been broken!! Active national energy policy

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