A Study On US Energy Policies

Energy is the material foundation for economic growth and social development. As the biggest energy consumption nation in the world, US has the largest and most advanced energy industry and market, the energy policy of which is of great influence to the world energy market and economics.From the historic perspective, US energy industry has experienced the ear of coal and the era of oil, and now is moving toward the era of diversified energy resources including natural gas, nuclear power, hydropower, wind power, solar power, biomass and other renewable energies. Sustainable development, environmental protection and ensuring affordable and secure energy supple have become the basic concepts in the US energy policymaking and implementation. With exploration and experiences of many years, US now has established a set of laws and policies for energy research and development, including not only legal requirements and regulatory policies, but also tax credit, direct subsidies, financial supports, etc. After taking office, President Obama has gradually drifted away from the energy policy of acquiring more energy through national power or war that President Bush insisted. Instead, President Obama has focused on domestic energy exploration and application, with the aim to reduce foreign oil dependence, improve energy efficiency and develop clean and renewable energy resources to ensure the national energy security and requirement.Based on the analysis of the US political and law systems, this dissertation tries to discuss the formation and evolution of US energy policy, and explain the current status of US energy industry and its regulation. It concludes that the US energy policy and regulation is a constantly evolving and renewing process, with distinct characteristics of incrementalism and being crisis-driven, as well as strong self-adaptation and self-improving abilities. After several energy crises, nevertheless, the US energy industry has become even more advanced and perfect in terms of technical, systematic and regulatory aspect.Subsequently, this dissertation analyzes in detail the main contents of US energy polices as well as the current development of US energy industry, which is divided into two parts:the first part elaborates on traditional energy resources including oil, natural gas, coal and nuclear power, while the second part on new energy and renewable energy resources. Both parts discuss the latest development, challenges and trends in each specific energy category, and conclude that use of traditional energy resources in a clean manner is still and will be the focus of US energy policy, while the development of renewable energy resources is an irreversible trend both in US and the world. In particular, the US government has put forward abundant supporting and incentive polices to promote the R&D and application of solar power, wind power, geothermic power, oceanic power, biomass and other renewable energies, which is playing more and more important role in the US energy structure and its reaction to climate change. However, in the short term, the renewable energy resources still face domestic political pressure and challenges in techniques, cost and infrastructure, with a long way to go. Aside from energy production and imports that meet US energy requirement, energy saving and environmental protection is also an important part of US energy policy. Through setting energy efficiency standards, R&D of smart grid, promotion of energy-saving products as well as green building, US has achieved great results in reducing total energy consumption, improving efficiency, enhancing US competitiveness and protecting environment, thus contributing greatly to the national, economic and energy security of US.As a highly advanced and post-industrialization nation, the growth of US energy demand is decline. However, under the context of financial crisis, US also aims to recover from recession through developing new and renewable energy resources as a new growth pillar. In this sense, US energy policy is of significance to the US recovery, its energy production and consumption, the global energy paradigm and energy trade. Based on the analysis of US energy policy, this dissertation aims to shed some lights into China’s energy policy and industry, as well as put forward tailored suggestions for China.