• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
CommentaryCOP21 climate talks

Government is Stalling Clean Energy Innovations

By
Charlie Drevna
Charlie Drevna
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
By
Charlie Drevna
Charlie Drevna
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
December 1, 2015, 7:00 AM ET
FRANCE-CLIMATE-WARMING-COP21-INAUGURAL-SESSION
Greek Prime Minister Alexis Tsipras (2nd-R) and other delegates attend the inaugural session of the COP 21 United Nations conference on climate change, on November 30, 2015 at Le Bourget, on the outskirts of the French capital Paris. More than 150 world leaders are meeting under heightened security, for the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21/CMP11), also known as "Paris 2015" from November 30 to December 11. AFP PHOTO / ERIC FEFERBERG / AFP / ERIC FEFERBERG (Photo credit should read ERIC FEFERBERG/AFP/Getty Images)Photograph by Eric Feferberg — AFP via Getty Images
Add Fortune on Google for similar content.

As world leaders convene this month for the Paris Climate Conference (COP21), advocates for greater government intervention in the global energy markets need to recognize the vital role that energy provides to human development and the ultimate well-being of millions around the world.

When addressing the use of fossil fuels in particular, words too often outpace and distort reality—that is, these fuels are and will continue to be the lifeblood of a modern society. First and foremost, affordable, reliable, and abundant energy improves the quality of life for everyone: It keeps the premature baby alive in the incubator; it provides access to clean, affordable drinking water; and it allows parents living paycheck to paycheck to feed their families and have proper healthcare.

Duplicating these conditions in underdeveloped regions of the world should be the mission of all leaders, both public and private. But it’s a mission that can only be realized in present time and for the foreseeable future through the use of fossil fuels—fuels that currently provide 87% of our domestic energy supply, in big part, because of private sector innovation.

Without basic agreement on this imperative, there can be no reasonable outcome. The thought of forging a comprehensive global strategy that condemns most of the world’s population to a paucity of energy supply simply cannot be tolerated, and it certainly will not happen. It’s naivety at best to believe so. Secondly, to suggest that the U.S. should “lead by example” and forge a program to drastically limit our use of fossil fuels is reckless posturing. Any strategy or program must be dedicated to improving people’s lives. Preventing people access to energy sources abundantly available today would have the opposite effect.

There are some who feel the government needs to impose a carbon tax on energy companies in order to spur the private sector to invest more heavily in the research and development of renewables. While this thinking may be well intentioned, it lends itself to government subsidizing and mandating inefficient alternatives. Such a tax would do much more harm than any good.

We need only to look back to the Great Recession in 2008 for examples of private-sector solutions that emerged without government mandates. During this timeframe, we experienced a massive reduction in economic activity, resulting in a noticeable—but not overwhelming—decrease in carbon dioxide emissions. However, this dramatic economic downturn also caused severe hardship for many Americans, a hardship that far surpassed the commensurate reductions in CO2.

If fossil fuel use were to be restricted as demanded by some in favor of government-preferred alternatives, you could undoubtedly expect far worse economic and societal struggles. Substituting capitalism with government intervention to solve any problem is a recipe for corruption and disaster. Moreover, such an approach would harm individuals such actions intended to help—the least fortunate among us. Government intervention—picking winners and losers in the marketplace—has consistently proven government’s penchant for picking losers.

Another change we saw during this same timeframe was the development of shale natural gas. This private sector innovation—a tectonic shift accomplished with no government help—led to a reduction in CO2 emissions while reducing energy costs for consumers and creating high-paying jobs. Private sector innovation, American ingenuity, and a spirit of entrepreneurism have led to some of the greatest advances we all enjoy. After all, I do not recall a tax or outright ban on typewriters leading to the development of the personal computer. As we move forward, let’s have a constructive debate and carefully consider what choices will make people’s lives better and what assets will be most impactful.

The private sector can—and is—investing heavily in energy alternatives that will provide us with a robust energy future. And while the government should encourage such innovation, it must get out of the way so that these innovative alternatives can develop in line with market demand—not mandate.

 

Charlie Drevna is a senior fellow at the Institute for Energy Research. He was formerly president of the American Fuel and Petrochemical Manufacturers.

About the Authors
By Charlie Drevna
See full bioRight Arrow Button Icon
By Bethany Cianciolo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

k
Commentarypower
What I keep hearing from Fortune 500 CEOs: ‘We have no idea what we’re actually paying for power’
By Kiran BhatrajuJuly 21, 2026
4 hours ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
4 hours ago
ford
Commentary250 Years of Innovation
Alliance for America’s Skilled Trades: Skilled trades shaped America’s past. Here’s how they can build America’s future
By Jim Farley, Linda Hubbard, Bayo Ogunlesi and Ruth PoratJuly 21, 2026
5 hours ago
Sumeet Agrawal is VP of Product Management (Data, AI Governance & Context Engineering for Agentic Systems) at Salesforce.
CommentaryAI agents
Salesforce VP on the leaky AI pipeline: why cheaper tokens won’t fix enterprise AI
By Sumeet AgrawalJuly 20, 2026
1 day ago
japan
CommentaryJapan
Japan’s monetary conundrum — why the yen hit a 40-year low as interest rates hit a 31-year high
By Steve H. Hanke and John GreenwoodJuly 20, 2026
1 day ago
ryan
CommentaryLeadership
I’ve interviewed 700 leaders. The ones outsourcing their thinking to AI lose their best people first
By Ryan HawkJuly 20, 2026
1 day ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
21 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
1 day ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
1 day ago
Current price of oil as of July 20, 2026
Personal Finance
Current price of oil as of July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.