the best way to construct a system that avoids pitfalls and maximizes benefits. That’s one of the reasons that the Energy Commission is still in existence, Holdren said. It is continuing to work on questions involving cap-and-trade systems, the management of nuclear energy, and an expanded research and development program.

A single set of rules or policies will not work well everywhere, said Davis. What is needed is a wide range of suitable options, some of which will appeal in some countries, if not all. At the same time, new policies need to prove themselves within individual countries before they are adopted elsewhere in the world, and this process can take time.

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