Deciding the Future: Energy Policy Scenarios to 2050

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64 Deciding the Future: Energy Policy Scenarios to 2050 World Energy Council 2007 Regional Achievement of the 3 A’s • All energy supply options should be pursued, coupled with guaranteed longterm carbon pricing. A market-oriented pricing mechanism building on the European Emissions Trading Scheme (ETS) is a good starting point, including for air transport. Attention should be devoted to further developing the international preconditions for nuclear power. • Looking at the unprecedented challenges ahead, and also being aware of the existing promises in RDD&D, it is important that governments, national and regional, and private industry increase their level of funding of energy and climate RDD&D, and especially increase their efforts to deploy results commercially. • Energy and climate RDD&D cooperation between governments and industry, nationally and internationally, should be strengthened and improved to make it more effective by sharing costs and decreasing the duplication of work within and between countries. Attention should be focused on options such as ITER, carbon capture and treatment, and electricity storage. 5.5.4. Latin America and the Caribbean As with other regions, a number of actions need to be taken to enhance progress toward achieving the 3 A’s: • Long lead times and the duration of investments require clear prices and stable political and regulatory environments. Such action will ensure private sector participation, particularly where project financing of infrastructure is required. • Ensure local capital markets are involved appropriately. In doing so, clarity is gained, helping to ensure that foreign investment is forthcoming. • Prices must reflect cost and not be subsidised. This needs to be balanced to ensure that the population is not driven to poverty, but this can be achieved with careful support and targeting of investments. • Development of management capabilities, and wider economic development, must be encouraged to allow for effective world trade in energy services and products, as well as reinforcing and strengthening the wider economic base in the region. • Effective contracts are essential in ensuring investment (through mitigating risk) and for protecting security of supply. • Major infrastructure needs better planning, prioritising beneficial projects. • Improvements in the efficiency of stateowned entities must be a goal, saving resources and improving economic potential. This is a lengthy and difficult process, usually requiring support from across the political spectrum (thus
Deciding the Future: Energy Policy Scenarios to 2050 World Energy Council 2007 Regional Achievement of the 3 A’s 65 ensuring long-term progress). Such change will contribute to the wider ability to attract foreign direct investment (FDI). • Training is paramount to improve management capabilities and drive development to “best-in-class.” • The region must exploit its generous resource endowment, such as mineral deposits, land, forestry, biodiversity, climate and soil conditions favourable to agriculture, and water and hydroelectric potential. The benefit of using these resources should be shared among local communities and bring wider economic and social benefit. • International agreements and supply contracts, diversification of supply sources, and efficient supply logistics should create sufficiently reliable supplies. • Regional energy companies, such as ARPEL or CIER, and governmentsponsored entities, like OLADE, may be instrumental in improving the region’s energy security. • Diversification of energy sources by increasing the share and improving the overall efficiency of renewable energy (as well as hydropower, nuclear power, and biofuels) will reduce greenhouse gas emissions and to improve energy supply security. A number of other environmental barriers also need to be overcome, though in this context not least of which is the acceptability of hydropower. • There is a need to reduce traditional biomass usage, particularly charcoal. • The region should foster the efficient use of agricultural byproducts for energy. • Energy efficiency should be a major goal because it will reduce primary energy needs, reduce environmental effects, and improve overall competitiveness of the economy. Energy efficiency should be evaluated on a life-cycle basis. This should indicate the most appropriate primary sources and secondary energies to serve end-users. 5.5.5. North America North America has identified the most important areas for developing energy policy. Most of the policies apply to each of the three countries in the region and also to the four scenarios: • Decision makers clearly need to balance current and long-term considerations in energy policy. It is important that energypolicy development is based on a clear, long-term vision, in-depth understanding of consequences over the full economic life of any associated developments, and full appreciation of inherent complexities. Certain improvements are desirable: − There is a need to strengthen integrated policy development for North America, building on the North America Energy Working Group, and the subsequent Security and Prosperity Partnership Agreement.
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