“Affordable energy,” as I explained in detail here, has always been a myth. Low end-user prices for energy are “affordable” only in the sense that they shift the cost to pollution victims. Far from reducing total costs, the shift is a negative-sum game: the winners gain less than the losses suffered by those who are harmed.
The alternative would be a race to the top, in which all the major trading countries would raise energy prices to an appropriate level. Doing so in a coordinated fashion would not greatly disturb existing competitive relationships. Some sectors of the U.S. economy, like those based on gas and renewables, would gain, although coal users and exporters would probably suffer.
Via Willy De Backer