Review
We urgently need to have a system in place to mitigate the economic and social consequences of peak oil. I believe TEQs provide the fairest and most productive way to deal with the oil crisis and to simultaneously guarantee reductions in fossil fuel use to meet climate change targets. --John Hemming MP, Chairman, All Party Parliamentary Group on Peak Oil
TEQs have long been Green Party policy, as we believe that we need a fair and transparent system to reduce energy demand and give each person a direct connection to the carbon emissions associated with their lifestyle. The TEQs scheme would guarantee that the UK's targeted carbon reductions are actually achieved, while ensuring fair shares of available energy. --Caroline Lucas MP, Leader, Green Party of England and Wales
Whilst I am less convinced than some people about the imminence of peak oil I firmly believe, regardless of this, that tradable personal carbon allowances could make a big contribution to reducing energy consumption and therefore carbon emissions in Britain. I also believe that it is extremely urgent for Britain, and all developed countries, to move away from a fossil fuel-based economy as quickly as possible. --Tim Yeo MP, Chairman, House of Commons Energy and Climate Change Select Committee
Product Description
This report from the Lean Economy Connection, commissioned by the All Party Parliamentary Group on Peak Oil, explores the vital role that an economy-wide tradable rationing scheme (TEQs) could play in addressing the twin challenges of climate change and peak oil. This electronic system would ensure fair access to energy for all, guarantee that national emissions reductions targets are achieved, and support the active participation and cooperation of citizens and all energy users in rapidly reducing reliance on fossil fuels. The report explores the proposed scheme's design in some detail, drawing on the authors' fifteen years' experience in the field. It also reviews the latest science on climate change and peak oil, details the history of the TEQs model's development and considers how the scheme might fit with current and anticipated climate and energy policies.