Skyrocketing gasoline prices have prompted many to consider the relationship between fossil fuel dependency and inflation. The inherent volatility of fossil fuels has presented challenges for price stability and persistent shocks in supply have often triggered recessions.
Transitioning away from fossil fuels is necessary to ensure long-term price stability and put the economy on a path to sustainable growth. A recent Roosevelt issue brief makes the case for robust public investment to fund a rapid transition to renewables, arguing that such a transition will:
- Provide lower, more stable prices energy prices
- Drive stronger, more equitable growth
- Remediate energy and economic inequities