The key to climate change control lies in improved technology. We need to find new ways to produce and use energy, meet our food needs, transport ourselves, and heat and cool our homes that will allow us to cut back on oil, gas, coal, nitrogen-based fertilizer, and other sources of the climate-changing greenhouse gases.
There are enough good options available to suggest that the world can accomplish the goal of controlling climate change at a reasonable cost (perhaps 1% of global income per year) while enabling the world economy to continue to grow and raise living standards. One of the most exciting developments on the horizon is the new generation of electric automobiles.
In the earliest days of the automobile in the late nineteenth century, many kinds of cars competed with each other - steam, battery, and internal combustion engine (ICE). The gasoline and diesel-powered internal combustion engines won the competition with the success of the Model T, which first rolled off of the assembly line in 1908. One hundred years later, competition is again stirring.
The opinions expressed here are those of the authors and do not necessarily reflect the positions of the International Business Times. Copyright Project Syndicate, Reprinted with permission.