Essay | The energy transition inside capitalism

There is no need to overturn our economic system to make the energy transition a success, says Professor Pierre-Oliver Pineau in energy balance. We just have to stop “cheating”, in particular by subsidizing the oil companies. And to find a balance in our energy consumption.


The general public knows Pierre-Olivier Pineau for his numerous interventions in the media on energy issues. Now the holder of the Chair in Energy Sector Management at HEC Montreal takes up the pen to articulate his vision of the energy transition that Quebec must take.

Before undertaking such a social project, it is essential to know why we are embarking on it. In the case of the energy transition, the answer seems obvious: to limit the damage of climate change.

“If for one reason or another you are insensitive to climate arguments, the energy transition is no less necessary,” pleads Pierre-Olivier Pineau, who devotes the first chapter of his book to describing the other benefits of climate change. abandonment of fossil fuels.

It demonstrates that hydrocarbons are a drain on the budgets of individuals as well as those of governments. That oil is a strategic resource that fuels conflicts around the world. That in addition to the climate, the energy transition will also have benefits for biodiversity and even for our health.

The next chapter is devoted to technologies that may or may not help us achieve decarbonization.

Yes, electric cars, green hydrogen and carbon capture and storage have a role to play towards a low carbon society. But Pierre-Oliver Pineau warns against the idea of ​​relying on them without changing our behavior and without initiating the necessary reforms, particularly concerning land use planning.

He is also wary of the “rebound effect” of new technologies. Efficiency gains could lead us to consume more energy instead of saving it. In the past, more efficient engines did not lead consumers to consume less gasoline, but to rush towards larger vehicles.

In fact, Professor Pineau places more hope in the “old” technologies of the train, the boat and the bicycle. We learn that the latter can move a human over a kilometer with 25 calories – the equivalent of “two or three peanuts covered in chocolate”, writes the author. It is 18 times more efficient than the car.

The most interesting section of the book is certainly the one where Pierre-Olivier Pineau responds to those who believe that we must overturn our economic system to achieve our decarbonization objectives.

He pleads – and this is convincing – that the problem is not the market economy, but the “cheats” introduced into it. We easily agree with him that subsidizing oil companies is not very capitalist. No more than offering free roads and parking lots to citizens (Pierre-Oliver Pineau even speaks of the “socialization” of the costs of the road network).

The question divides the experts, but the author does not believe that the decrease in emissions should rhyme with the decrease in the economy. Nor does he believe it will lead to a reduction in people’s standard of living – although their ‘lifestyle’ will undeniably be altered.

We leave this reading with the impression that if the energy transition requires profound changes, we have all the tools in our hands to carry it out.

energy balance

energy balance

Robert Laffont Quebec

192 pages

Extract

“In-depth reforms, correcting the inconsistencies in which we have been bathed for decades (free pollution, subsidies to polluters, road system entirely supported by the State), have the advantage of bringing real changes without completely upsetting our landmarks. In other words, failing to have a specific alternative system that would allow us to ensure the sustainability of our society, it is better to act to right the known wrongs of our system. This will avoid having to make a revolution leading to immense chaos, while allowing concrete action to be taken on environmental issues. »

Who is Pierre-Olivier Pineau?

Holder of the Chair of Energy Sector Management at HEC Montréal, Pierre-Olivier Pineau is a specialist in energy policies, particularly in the electricity sector. He is interested in the links between energy and sustainable development and regularly appears in the media to analyze these issues. He has been a member of the Government of Quebec’s Advisory Committee on Climate Change since April 2021.


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