Can capitalism save the planet?
The Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 11 June 2024
⏱️ 52 minutes
🧾️ Download transcript
Summary
Two books that are essential reading for energy wonks give contrasting views on how to tackle climate change.
The hot book in the energy world right now is Brett Christophers’ The Price Is Wrong: Why Capitalism Won’t Save the Planet. It’s a detailed look at the structural issues in electricity markets and the challenges of generating returns on renewable investments, arguing that inadequate profitability is the key reason why the transition to low-carbon energy is not moving fast enough to address the threat of global warming.
It’s a provocative thesis that has sparked heated debate, on both sides of the debate. If you work in the energy business, you need to get to grips with the argument, even if you ultimately think it’s wrong.
In this episode, Ed Crooks is joined by Melissa Lott, Professor at Columbia University’s Climate School, and Joseph Majkut, director of the Energy Security and Climate Change Program at the Center for Strategic and International Studies, to discuss the question of whether private investment and market forces can bring about the reduction in emissions that the world needs.
They also review another important book that has broadly the opposite message: Askhat Rathi’s Climate Capitalism – Winning the Global Race to Zero Emissions. That book focuses on the real examples of progress in the energy transition.
At a time when the pace of the energy transition globally may be faltering, and the 1.5 degrees limit to global warming is getting further and further out of reach, Climate Capitalism shows just how much change and innovation there is in the industry. Bill Gates says it’s an important read for anyone in need of optimism.
In spirit, at least, it seems like a very different message from The Price Is Wrong. But are the fundamental conclusions of the two books really so different? Ed, Melissa and Joseph discuss whether there might be some common ground there after all.
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Transcript
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| 0:00.0 | Hello and welcome to the Energy Gang, a discussion show about the fast-changing world of energy. |
| 0:14.0 | I'm Ed Crooks. And if you haven't already signed up and you're interested in keeping in touch |
| 0:18.0 | with what we're doing at the Energy Gang and also in hearing more about my writing on energy please do sign up for a newsletter which is at |
| 0:25.7 | woodmack.com slash the dash inside dash track you'll be notified when new episodes of the Energy Gang are out and get even more analysis |
| 0:35.1 | on all the topics we cover in energy and natural resources. |
| 0:38.4 | So on today's show, I'm joined by Melissa Lott, who's a professor at the Climate School at Columbia University in New York. |
| 0:44.0 | Hi, Melissa, how are you? |
| 0:45.0 | Morning, Ed. I'm good. I was up late finishing the books that, oops, spoiler. |
| 0:50.0 | But I'm really excited for this discussion. I did get through the last few pages and I'm very proud of that. |
| 0:55.6 | Indeed. Well done. Yeah, there's been a lot of reading involved in this week's show, but we'll tell people about that at a moment. |
| 1:02.1 | It's certainly been worthwhile, I I think to spend that time. |
| 1:05.0 | Absolutely. |
| 1:06.0 | It's also a great pleasure to welcome back Joseph Mykut, who's the director of the Energy Security and Climate |
| 1:10.1 | Change program at the center of a strategic and international studies in Washington. |
| 1:14.0 | Hi Joseph, how are you? |
| 1:15.0 | I'm great. I'm so happy to be here and I'm really looking forward to talking with both of you. |
| 1:19.0 | Absolutely. Have you enjoyed the reading? |
| 1:20.0 | Enjoyed is maybe a loaded term. |
| 1:24.0 | Like we, maybe we over-promised ourselves what we would be able to accomplish. |
| 1:28.0 | But I really have actually. |
| 1:30.0 | I mean, I had kind of looked at both these books. |
| 1:32.0 | I've heard about them talked about on |
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