UPDATE: A revised and updated version of this blog entry can be found here. This ACEEE paper was written to comment on a January, 2012 paper that Allcott and Greenstone published in the Journal of Economic Perspectives. Allcott and Greenstone have since revised their paper to respond to some of our criticisms.
Yes, U.S. Oil and Gas Production Is Increasing, but Energy Efficiency Is Still the Number One Resource
A variety of recent articles have trumpeted how U.S. oil and gas production is up. For example, Daniel Yergin, in a New York Times op ed, notes that U.S. oil production has increased 1.6 million barrels per day since 1998 and that a further 0.6 million barrel increase may be possible this year. He also notes how shale gas is now 37% of U.S.
Although Congress has been unable to pass comprehensive energy and climate legislation so far, there is hope for energy efficiency legislation in the not-too-distant future. Energy efficiency is cost-effective and has the potential to give the economy a boost. And importantly, energy efficiency has bipartisan support.
Standards Would Deliver Fuel Savings That Would Stimulate the Economy and Job Growth.
Washington, D.C.—Proposed EPA/NHTSA fuel economy rules will lead to cost-effective consumer investments in fuel-efficient vehicles that will in turn stimulate economic activity and create an estimated net gain of 300,000 to 400,000 jobs per year on average over the period 2017 to 2025. The new rule will raise average new car and light truck fuel economy to 49.6 miles per gallon by 2025.
ACEEE Report: U.S. Better Off “Thinking Big” about Energy Efficiency Instead of Focusing First on Development of New Energy Sources
Listen to the streaming audio file recording of this news event (mp3) HERE
How Lack of Emphasis on Major Energy Efficiency Investments Leaves “3 Jokers in the U.S. Economic Deck”; Slashing Energy Use 60% Could Generate 2 Million Jobs & Save the Equivalent of $2600 Per Household Annually.
What energy efficiency policies make sense for your community? This question is not always easy to answer. Energy efficiency can be a complex topic. It is made more difficult because there are few one-size-fits-all solutions for every project, program, or policy. However, tools like ACEEE’s new local energy efficiency policy calculator (LEEP-C) can make this complex question a little bit easier to answer.
Study: Energy Efficiency Loan Financing Proving to be a Low Risk Investment with Large-Scale Potential
Energy Efficiency Loan Programs Default Rates Range from 0–3% and Remained Largely Unchanged During Housing Bubble Collapse
Cost-Effective Policies Could Meet 17% of State Energy Needs, Cutting Energy Bills While Creating Local Jobs