With well-placed technology investment, it’s possible to imagine a future in which we export not only the fuels the world wants, but also the pollution control technology the world needs. That is energy super power.
Some say reducing emissions is clash of environment vs. economy. Third Way has one policy idea that breaks that mold: Placing a small fee on exported fossil fuels to be used to finance the development of pollution control technologies.
The fee could raise $20 billion or more over ten years that would go directly toward R&D for clean tech for fossils (like carbon capture and storage). This could be a game-changing amount, since the combined federal and private R&D spending in those areas currently is measured in the millions. Moreover, this work could generate another lucrative export—clean technology.