Opportunities to redirect technological advances toward more rapid development of renewable technologies also will be delayed. Instead, research and development efforts will continue to focus on fossil fuel-based systems and technologies, thereby furthering our dependence on these energy sources. Delay by the United States will have global implications since other nations, developing countries in particular, are unlikely to take action unless the United States first commits to do so. Without early action by the U.S., greenhouse gas emissions worldwide will continue to rise in both industrialized and developing nations. Without early action, the potential additional benefits from climate protection policies, such as reduced air pollution and savings from energy efficiency, will be lost.
Early action is key to slowing the pace of change.
For the Clinton Administration and the U.S. Congress, therefore, the temptation to postpone actions must be resisted, Austin concludes. By, in effect, delaying since 1992, we have already lost precious opportunities. Meeting any emissions target now is already more expensive than it would have been if credible market and policy signals had been put in place five years ago. Continued postponement of policy implementation only risks making future changes of direction both more abrupt and more costly. This institute-wide effort is motivated by the belief that there is a positive link between climate protection and a sound economy.