Fossil fuel use must be reduced sharply and quickly to achieve any meaningful reductions in carbon emissions. But 2022 saw record emissions from oil, gas, and coal. And subsidies for fossil fuel consumption rose to $1 trillion last year.
There have been several proposals to ration fossil fuel use as a way to lower production and consumption. One such system, Tradable Energy Quotas, nearly became government policy in the UK a decade ago.
What are TEQs, and how could they be implemented today? How do they differ from carbon markets? How could they be part of a global just energy transition?
Shaun Chamberlin co-authored the UK All Party Parliamentary report on TEQs and advised the government feasibility study. He was involved with the Transition Towns and Extinction Rebellion movements from the outset, and leads Sterling College’s program Surviving the Future: Conversations for Our Time. Ivonne Yanez is an Ecuadorian environmentalist and founder member of Acción Ecológica and Oilwatch international. Stan Cox is a research fellow in ecosphere studies at the Land Institute in the U.S. and the author most recently (with Zenobia Jeffries Warfield) of The Path to a Livable Future.
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