Jason Bordoff, the Director of Columbia University's Center on Global Energy Policy, released the following statement regarding today's announcement by the Obama Administration proposing standards for future U.S. power plants.
We are at a transformational moment in energy history. Just a few years ago, all energy projections forecast increased imports, increased scarcity, and increased natural gas prices. Today, we’ve shifted from scarcity to abundance.
Despite what you hear, the Western Hemisphere is not about to become the new Middle East. While the U.S. and Canada are poised to dramatically boost fossil fuel production, countries south of their borders are likely to remain mired in regulatory restrictions and policy unpredictability.
Gasoline prices have shot up nearly 20 cents since the start of July and are projected to rise higher yet. Gasoline prices are largely driven by global crude oil prices and usually rise during the summer driving season.
President Obama's announcement on Tuesday that he will use his executive authority to regulate carbon-dioxide emissions from existing power plants, and to finalize rules for plants that have yet to be built, is reason to celebrate — but also an oc