Wednesday, May 03, 2006

I'm not happy about it, but...

This article addresses the under-reported fact why people aren't in a panic over higher gas prices. We're complaining - like we always do when we don't get what we want - but not panicking:
"According to the Bureau of Economic Affairs (see chart here), American consumer
spending on energy as a fraction of total personal consumption has declined considerably since 1980. Whereas 25 years ago, one in every ten consumer dollars
was spent on energy, today it's one in every sixteen bucks. In other words, what it takes to heat and cool our homes and drive to and from our jobs and vacation destinations is relatively less costly than it once was. "
Since there isn't a crisis, maybe we can address the fundamental problems this country faces with it's energy policy. Nah. That won't happen when there's political hay to harvest.

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