As noted in my prior post, we are facing a slowly building economic crisis on energy, and we are facing it without leadership. But what would leadership on energy look like? And do I have a proposal? As it so happens, I do. The unfortunate fact about the demand for energy in the United States is that it is “inelastic” in the short run. Since we cannot start living in compact cities or throw away our energy-intensive homes and vehicles overnight (doing so would take a lot of energy), we consume nearly as much no matter how much it costs, desperately bidding against the rest of the world for the limited supply, sacrificing other aspects of our standard of living. In the long run, if we had had leadership, we would have made different choices over the past 20 years. In the long run, if we had leadership, we might make different choices over the next 20 years. In the short run, however, there is only one thing that suburban, auto-oriented America can do to substantially reduce its energy consumption – carpool on a large scale.

As noted in my prior post, we are facing a slowly building economic crisis on energy, and we are facing it without leadership. But what would leadership on energy look like? And do I have a proposal? As it so happens, I do. The unfortunate fact about the demand for energy in the United States is that it is “inelastic” in the short run. Since we cannot start living in compact cities or throw away our energy-intensive homes and vehicles overnight (doing so would take a lot of energy), we consume nearly as much no matter how much it costs, desperately bidding against the rest of the world for the limited supply, sacrificing other aspects of our standard of living. In the long run, if we had had leadership, we would have made different choices over the past 20 years. In the long run, if we had leadership, we might make different choices over the next 20 years. In the short run, however, there is only one thing that suburban, auto-oriented America can do to substantially reduce its energy consumption – carpool on a large scale.

As noted in my prior post, we are facing a slowly building economic crisis on energy, and we are facing it without leadership. But what would leadership on energy look like? And do I have a proposal? As it so happens, I do. The unfortunate fact about the demand for energy in the United States is that it is “inelastic” in the short run. Since we cannot start living in compact cities or throw away our energy-intensive homes and vehicles overnight (doing so would take a lot of energy), we consume nearly as much no matter how much it costs, desperately bidding against the rest of the world for the limited supply, sacrificing other aspects of our standard of living. In the long run, if we had had leadership, we would have made different choices over the past 20 years. In the long run, if we had leadership, we might make different choices over the next 20 years. In the short run, however, there is only one thing that suburban, auto-oriented America can do to substantially reduce its energy consumption – carpool on a large scale.

As noted in my prior post, we are facing a slowly building economic crisis on energy, and we are facing it without leadership. But what would leadership on energy look like? And do I have a proposal? As it so happens, I do. The unfortunate fact about the demand for energy in the United States is that it is “inelastic” in the short run. Since we cannot start living in compact cities or throw away our energy-intensive homes and vehicles overnight (doing so would take a lot of energy), we consume nearly as much no matter how much it costs, desperately bidding against the rest of the world for the limited supply, sacrificing other aspects of our standard of living. In the long run, if we had had leadership, we would have made different choices over the past 20 years. In the long run, if we had leadership, we might make different choices over the next 20 years. In the short run, however, there is only one thing that suburban, auto-oriented America can do to substantially reduce its energy consumption – carpool on a large scale.

I am more concerned about the intermediate-term future of the U.S. economy today that I have been in nearly 20 years, since 1986 and 1987. At the end of the 1990s I knew the stock market was overvalued and heading for a fall, but felt that the underlying economy was sound. Now, despite the hard work of the American people and the innovation of American companies, we are vulnerable to a significant downturn in our standard of living.

I am more concerned about the intermediate-term future of the U.S. economy today that I have been in nearly 20 years, since 1986 and 1987. At the end of the 1990s I knew the stock market was overvalued and heading for a fall, but felt that the underlying economy was sound. Now, despite the hard work of the American people and the innovation of American companies, we are vulnerable to a significant downturn in our standard of living.

I am more concerned about the intermediate-term future of the U.S. economy today that I have been in nearly 20 years, since 1986 and 1987. At the end of the 1990s I knew the stock market was overvalued and heading for a fall, but felt that the underlying economy was sound. Now, despite the hard work of the American people and the innovation of American companies, we are vulnerable to a significant downturn in our standard of living.

I am more concerned about the intermediate-term future of the U.S. economy today that I have been in nearly 20 years, since 1986 and 1987. At the end of the 1990s I knew the stock market was overvalued and heading for a fall, but felt that the underlying economy was sound. Now, despite the hard work of the American people and the innovation of American companies, we are vulnerable to a significant downturn in our standard of living.