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 #21] – The Role of Development Banks in Energy Transition
[Episode #20] – Grid Evolution
[Episode #19] – Distributed Renewables in Latin America and Beyond
[Episode #18] – The Collapse of Coal
[Episode #17] – Denmark’s Energy Transition
[Episode #16] – Energy Efficiency Markets
[Episode #15] – The Outlook for Electric Vehicles
[Episode #14] – China’s Energy Future
[Episode #13] – The Oracle of Oil
[Episode #12] – Energy Access for the Developing World
[Episode #11] – India and Coal
[Episode #10] – Grid Architecture of the Future
[Episode #9] – Macro Outlook for 2016
[Episode #8] – Storage on the Grid
[Episode #7] – EROI
[Episode #6] – Transition from Oil
[Episode #5] – Winning the Carbon War
[Episode #4] – Energiewende
[Episode #3] – Limits on the Grid – Part 2
[Episode #2] – Limits on the Grid – Part 1
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