Itsonlymoney

Energy: Government Vs. Market Solutions

The good news is that all that untapped oil in ANWAR etc everyone wants is now worth more. And no, I don't want Bush giving it away to his buddies. It has become a tired refrain that all our problems are from the stupid old government. Just let world corporate interests and the market have their way and we'll have a rational prosperous society that can cure all our ills. Recent events have not proved this assumption. I'm thinking mortgages and banking, health care, insurance scams, the upcoming credit card crisis, inefficient transportation, market manipulations, etc.

The problem is not the price of oil. Oil is an amazing store of energy with potential way beyond our current usages. The problem is that oil has been undervalued for so long that this re-valuation is calamitous.

If we continue to ignore public transportation then our situation will only become worse. If we continue to waste energy then we will decline as a society until we have nothing left to waste. How many countries store 50 gallons of hot water in every home 24/7? Only North America. How much energy will we save if millions of homes just replace wasteful water heaters for efficient flash heaters? The next time you fly at night observe all the parking lots that are empty and fully lit. The good news is that we have easy efficiency gains out there for the taking and they will create jobs in the process. Bill Clinton said that the efficiency gains from IT were responsible for the booming economy under his term. Maybe the next administration will be wise enough to encourage the retrofitting of America's infrastructure and prosper as well.