De-Politicizing the International Energy Agency

While the International Energy Agency (IEA) has some laudable goals, such as promoting energy security and economic development, it needs to be de-politicized away from environmental activism.  It also needs to improve the rigor in some of its reporting.  The IEA doesn't come cheap, however, with a 2012 budget of over $35 million funded by its 28 member-states -- including the USA. Some of the IEA's recommendations are ridiculous.  A year ago, it released a report proposing so-called "required" clean energy spending targets in order to avoid catastrophic anthropogenic climate change.  As has been briefly discussed in the media, the IEA states that $24 trillion in clean energy investments are needed before 2020, and $140 trillion in clean energy investments are needed before 2050. Numbers of such magnitude are absurd, particularly in light of current levels of fundamental uncertainty regarding the existence, direction, and...(Read Full Article)