The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures
This paper reviews and analyses a decarbonization policy called the Tradable Energy Quotas (TEQs) system developed by David Fleming. The TEQs system involves rationing fossil fuel energy use for a nation on the basis of either a contracting carbon emission budget or scarce fuel availability, or both...
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| Format: | Article |
| Language: | English |
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MDPI AG
2020-08-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/13/17/4304 |
| _version_ | 1827708725504245760 |
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| author | Samuel Alexander Joshua Floyd |
| author_facet | Samuel Alexander Joshua Floyd |
| author_sort | Samuel Alexander |
| collection | DOAJ |
| description | This paper reviews and analyses a decarbonization policy called the Tradable Energy Quotas (TEQs) system developed by David Fleming. The TEQs system involves rationing fossil fuel energy use for a nation on the basis of either a contracting carbon emission budget or scarce fuel availability, or both simultaneously, distributing budgets equitably amongst energy-users. Entitlements can be traded to incentivize demand reduction and to maximize efficient use of the limited entitlements. We situate this analysis in the context of Joseph Tainter’s theory about the development and collapse of complex societies. Tainter argues that societies become more socio-politically and technologically ‘complex’ as they solve the problems they face and that such complexification drives increased energy use. For a society to sustain itself, therefore, it must secure the energy needed to solve the range of societal problems that emerge. However, what if, as a result of deep decarbonization, there is less energy available in the future not more? We argue that TEQs offers a practical means of managing energy descent futures. The policy can facilitate controlled reduction of socio-political complexity via processes of ‘voluntary simplification’ (the result being ‘degrowth’ or controlled contraction at the scale of the physical economy). |
| first_indexed | 2024-03-10T17:09:44Z |
| format | Article |
| id | doaj.art-300a20a96c2b42adbd8247ad17a404dd |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T17:09:44Z |
| publishDate | 2020-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-300a20a96c2b42adbd8247ad17a404dd2023-11-20T10:41:32ZengMDPI AGEnergies1996-10732020-08-011317430410.3390/en13174304The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent FuturesSamuel Alexander0Joshua Floyd1Melbourne Sustainable Society Institute, University of Melbourne, Melbourne 3010, AustraliaMelbourne Sustainable Society Institute, University of Melbourne, Melbourne 3010, AustraliaThis paper reviews and analyses a decarbonization policy called the Tradable Energy Quotas (TEQs) system developed by David Fleming. The TEQs system involves rationing fossil fuel energy use for a nation on the basis of either a contracting carbon emission budget or scarce fuel availability, or both simultaneously, distributing budgets equitably amongst energy-users. Entitlements can be traded to incentivize demand reduction and to maximize efficient use of the limited entitlements. We situate this analysis in the context of Joseph Tainter’s theory about the development and collapse of complex societies. Tainter argues that societies become more socio-politically and technologically ‘complex’ as they solve the problems they face and that such complexification drives increased energy use. For a society to sustain itself, therefore, it must secure the energy needed to solve the range of societal problems that emerge. However, what if, as a result of deep decarbonization, there is less energy available in the future not more? We argue that TEQs offers a practical means of managing energy descent futures. The policy can facilitate controlled reduction of socio-political complexity via processes of ‘voluntary simplification’ (the result being ‘degrowth’ or controlled contraction at the scale of the physical economy).https://www.mdpi.com/1996-1073/13/17/4304Tradable Energy Quotas (TEQs)deep decarbonizationrenewable energypost-carboncarbon budgetepistemic humility |
| spellingShingle | Samuel Alexander Joshua Floyd The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures Energies Tradable Energy Quotas (TEQs) deep decarbonization renewable energy post-carbon carbon budget epistemic humility |
| title | The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures |
| title_full | The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures |
| title_fullStr | The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures |
| title_full_unstemmed | The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures |
| title_short | The Political Economy of Deep Decarbonization: Tradable Energy Quotas for Energy Descent Futures |
| title_sort | political economy of deep decarbonization tradable energy quotas for energy descent futures |
| topic | Tradable Energy Quotas (TEQs) deep decarbonization renewable energy post-carbon carbon budget epistemic humility |
| url | https://www.mdpi.com/1996-1073/13/17/4304 |
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