What causes inflation? And how is it connected to the energy transition?
Standard business press narratives often discuss inflation as if it has a mind of its own, seldom exploring its root causes. However, the connection between inflation and fossil fuel prices is both undeniable and significant. In fact, as you’ll hear at the end of today’s interview, endless interventions by the Fed may be an unavoidable consequence of the energy transition, from now until the project is complete.
So why aren’t we having a conversation about how Putin’s invasion of Ukraine ultimately led to your having to pay more for everything, as inflation was transmitted through from fossil fuels to everything else? Why did Congress give us the Inflation Reduction Act in 2022, instead of the Fossil Fuel Reduction Act? And what is the role of the Fed in the energy transition?
In this conversation, climate economist Gernot Wagner of the Columbia Business School rejoins us to help us understand the relationships between fossil fuels and inflation. We discuss why the Fed acts as it does, and we explore the Inflation Reduction Act in the US and the REPowerEU policy package in the EU, and the complex interconnections between monetary policy, industrial policy, and energy policy.
[Episode #49] – Climate Science Part 5 – Business As Usual
[Episode #48] – Climate Science Part 4 – Teaching the Carbon Cycle
[Episode #47] – Transition in Europe
[Episode #46] – Is 100% Renewables Realistic?
[Episode #45] – Climate Science Part 3 – Paleoclimate
[Episode #44] – Different Strokes
[Episode #43] – Legal Challenges of PURPA and FERC
[Episode #42] – Can Renewables Power the World?
[Episode #41] – Generator Survival Strategies
[Episode #40] – Climate Science Part 2 – Taking Planetary Temperatures
[Episode #39] – Transition in Australia
[Episode #38] – Getting from Here to There
[Episode #37] – Corporate Buyers of Renewables
[Episode #36] – Climate Science Part 1 – Climate Change Overview
[Episode #35] – Green Bonds
[eLab Extra #7] – How NREL Supports Energy Transition
[eLab Extra #6] – Building EV Charging Infrastructure
[eLab Extra #5] – EVs and More in Austin, TX
[eLab Extra #4] – Transition in New York and the World
[Episode #34] – Transition in the North Sea and Netherlands
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