The Energy Trilemma Matters More Than Ever

With events in the Middle East once again disrupting global energy markets, we need to revisit one of our favorite energy policy concepts, the energy trilemma, a simple variant of the trolley problem with an added variable. The three variables are 1) affordability, 2) security of energy supply (can a hostile government cut off your supply?), and sustainability (are your energy sources heavy polluters or consumers of finite resources?). The trilemma says that policymakers can only enjoy two out of three of these variables, with the third one getting the trolley, so to speak. If we look at energy-producing technologies,…