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Top Global Energy Official Calls for Action on Energy Security, Climate Change
Nobuo Tanaka, executive director of the International Energy Agency (IEA), described energy security and climate change as high-stakes global challenges in the first installment of SIPA's Leaders in Global Energy lecture series on September 15.
Introduced by Dean John H. Coatsworth as one of the world’s most serious and farsighted energy analysts, Tanaka has deep experience shaping international energy policy from the oil crises of the 1970s to the climate change negotiations of more recent years.
Tanaka began by outlining some of the problems in global energy security, from recent blackouts and the 2008 spike in oil prices to rising energy demand in developing countries. Meanwhile, current trends and policies will produce a massive increase in greenhouse gas emissions if left unchanged, he said.
These challenges require a global transformation in how energy is produced and consumed, Tanaka said. Both energy security and climate change require a wide array of investments and policy changes, including increases in energy efficiency, carbon pricing and the massive development of renewable and nuclear energy. Fossil fuels will continue to provide much of the world's energy, but they must be made more costly.
"We are now saying that the cheap energy age is simply over," Tanaka said. "In the 21st century, we must have a different paradigm — high energy prices."
Watch the video of Mr. Tanaka's lecture here. 
View a photo album here. 
Tanaka presented the IEA's analysis of the most cost-effective strategies to cut greenhouse gas emissions in half by 2050 while maintaining energy security. Energy investments must increase dramatically, he said. In order to meet greenhouse gas reduction targets, the world must build 30 nuclear plants per year, instead of the current rate of one or two. Windmills, solar panels and electrical vehicles must all be built on an unprecedented scale. Energy research must increase by two to five times current levels.
Coal-fired power plants must demonstrate the efficacy of capturing carbon dioxide and storing it underground, Tanaka said. Fossil fuels such as coal, oil and natural gas will still provide about half of the world's energy in 2050, which would be down from 81 percent today.
Tanaka described the IEA's estimates as a "reality check" for climate change negotiators. The proposed emissions reductions can only be achieved through tens of trillions of dollars in additional investments and a shared, global commitment. Emissions reductions must be widespread, including steep cuts in the United States and Europe, emission reductions in China by 2050 and limited emissions growth in India.
Despite the size of the challenge, major reforms should be undertaken sooner rather than later. With each passing year, the costs of achieving emissions reduction targets increases by $500 billion, Tanaka said.
Tanaka noted a few favorable trends—an increase in photovoltaic cells, a modest rise in energy research and a growing interest in the energy industry among young people. According to Tanaka, the challenge now is for states to recognize their own interest in energy sustainability and to take bold action.
"We know we need to have these actions," he said. "The climate change argument is to do things for somebody else. Energy security is to do the same things for yourself. So this is a much more politically acceptable argument, especially in the United States."
Tim Shenk, 09/17/2010
ABOUT LEADERS IN GLOBAL ENERGY
The Leaders in Global Energy lecture series is the centerpiece of a new initiative by SIPA to identify solutions to the challenge of creating sustainable energy while protecting the environment.
Other speakers include Fatih Birol, chief economist at the International Energy Agency; Andris Pielbags, European Commissioner for Development; and Carlos Tavares, Vice Chairman of Renault Nissan.
In addition to the Leaders in Global Energy series, SIPA will develop new coursework, fieldwork and research through its Energy and Environment concentration, which provides students with the knowledge base and analytical tools needed to address the challenge of sustainably and responsibly powering the developed and developing nations of the world.
Some new programming will be shaped by SIPA Visiting Professor Manuel Pinho, former Portuguese minister of the economy and innovation, former director of the European Investment Bank, and former economist at the International Monetary Fund.
SIPA is grateful to EDP, Energias de Portugal, S.A., for its generous support of the Leaders in Global Energy series. EDP’s interests in conventional and renewable power extend across 11 countries on four continents, including in the United States.