THE ENERGY OPPORTUNITY - The Power Surge: Energy, Opportunity, and the Battle for America's Future - page 198

the same time, none of the big gains currently being posted in U.S.
energy are disastrous for the economy, national security, or the environ-
ment. Each of them, pursued properly, can deliver important benei ts
that greatly outweigh the at endant costs—and blocking or neglecting
any of them could risk big losses. h e United States has an important
opportunity to strengthen its economy, improve its security, and con-
front global climate change, all by building on ongoing advances in
American energy.

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Some of these gains will be realized without any action from Washington;
indeed, government meddling ot en does harm. Yet the United States
will miss out on much of the opportunity unless Washington plays a
wise and active role in taking advantage of it.
Unfortunately, the debate over what government should do is regu-
larly dominated by people who either oppose an active role for govern-
ment without exception or support a strong government role but too
ot en advocate unwise action. Some who oppose an active role for gov-
ernment contend that the supposed risks associated with energy don't
exist. Others insist the free market will confront those dangers ef ectively
on its own. h e i rst seven chapters of this topic should put this belief
to rest. But there is a subtler and more challenging case for a hands-of
approach. h e mere existence of problems with markets doesn't mean
there are desirable government solutions; intervention has its own set of
risks and costs, and in principle they can be greater than the risks and
costs of keeping government on the sidelines. But the fact that govern-
ments can screw things up shouldn't be taken to an absurd extreme. h e
risks of government inaction are ot en large, while keeping the costs of
intervention relatively small is ot en straightforward.
But this doesn't mean government intervention in the energy sys-
tem always makes sense. Sometimes intervention is simply misguided:
ef orts to end shale gas development, for example, would deny the
United States big benei ts without delivering commensurate environ-
mental gains. Other times, government intervention that looks smart
today can be undermined by unexpected changes in the world. For