Karl W. Smith, Columnist

More Oil and Gas Now Will Mean Less Coal Later

Biden’s plan for a temporary increase in the production of fossil fuels is smart long-term climate policy.

November 3, 2021 at 12:30 PM UTC

Karl W. Smith is a Bloomberg Opinion columnist. Previously, he was vice president for federal policy at the Tax Foundation and assistant professor of economics at the University of North Carolina.

Acting short-term, thinking long-term.
Photographer: Chris Jackson/Chris Jackson Collection

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U.S. President Joe Biden is pushing for a temporary increase in oil and gas production at the COP26 climate summit in Glasgow, Scotland. While Biden himself has acknowledged that his effort might seem ironic, to some climate activists, it is more than that: It’s hypocritical, especially coming from a president who has pledged to rapidly shift the U.S. economy away from fossil fuels.

These criticisms are misguided. An increase in oil and gas production, even over the medium term, is not inconsistent with action to curb climate change — in fact, it is instrumental to its success.