Daily Archives: November 5, 2012

Oil fields in Iraq. Image by Getty

The International Monetary Fund is not well known for its expertise on the energy sector and the oil market. A new paper just published by the organisation on the possible future for oil and the world economy is not likely to correct that impression. Ignoring much of the evidence, the authors try to breathe life into the old theory of “peak oil”.

 

Pilita Clark reviews ‘The Carbon Crunch’ by Dieter Helm, an adviser on energy policy

If you had to choose an energy policy for the 21st century, would you prefer a system based on “contracts for difference”, with a single-party counterparty, a levy control framework and a capacity market? Or would you go for “premium feed in tariffs”, with an appropriate tariff degression mechanism and a strategic reserve?

Not sure? Neither are a lot of energy ministers on their first day in the job. So think of their relief when they come across someone like Dieter Helm. This extensively published Oxford professor of energy policy is an economist with firm ideas about how to design an affordable, climate friendly electricity sector that he can readily explain in plain English.