"Clean" Energy Sidelined by Gas and Oil
Traditional fuels are becoming cheaper and more plentiful
Since the 1950s, the US has had a perverse approach to energy. In effect we have maximized demand by building bigger, hungrier cars, homes, and lifestyles and minimized supply by limiting oil drilling, coal mining, and nuclear development. And how do we make up the difference? We buy oil from the people who hate us most.
But this is changing. We've long been acutely aware of the geopolitical ramifications of relying on Middle Eastern oil. And the threat of climate change—along with high fuel prices—has made us all realize the need for greater energy efficiency. Thankfully, technology is coming to the rescue. New methods of extracting gas and oil, combined with efficiency gains in nearly every industry, mean that we are now minimizing demand and maximizing supply. And that's a good thing, right? Not so fast.