The Energy Deficit
Having underinvested in energy efficiency and security when the costs of doing so were lower, the US today is poorly positioned to face the prospect of rising energy prices. Rather than anticipating and preparing for change, Americans have waited for change to be forced upon them.
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MILAN – I have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security and resilience, the notion that Barack Obama’s administration is responsible for rising gas prices makes little sense.