Drilling for Clean Energy Innovation

June 28, 2013

Washington’s current approach to energy policy leads to underfunded support for clean energy, perpetual bickering over drilling policy, and rising concentrations of greenhouse gases.

Our solution might seem just as contradictory: drill for clean energy innovation. However, we are not talking about some deceiving ‘clean oil’ technology solution or about ignoring climate change. Rather, we suggest Washington policymakers raise at least $1 billion per year in new revenue from increased fees on oil and gas drilling, to be invested in breakthrough clean energy research at the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E).