Most rules and conventions taken for granted in other businesses, and in the world of economics, haven t been applied to energy. That s why our patient looks to be in pretty bad shape. We find a lot of clogged, congested arteries. Our transmission pipes and wires are inadequate and overburdened. Blood supply is low.
Energy is our economic lifeblood.
But power is short out West, and natural gas is short and pricey almost everywhere. Cardiac development is weak. Just as the heart powers the body, electric generation powers modern society. But supply hasn t kept up with demand. Conventional wisdom would place the outlook for our patient somewhere between gloomy and terminal.