Current Event - Climate Change Priorities

This Greenbiz article posted on January 27 interprets results from a survey designed to gauge American's current priorities when it comes to energy. Concurrently with this class I'm also taking Energy Economics; this article blends sustainability and consumer behavior with the economics of residential energy use, two things that I have been learning a lot about, so naturally it caught my eye.

It does a great job of explaining why cheap energy sources, while seemingly a good thing, are actually perpetuating climate change. Basically, when energy prices are low, people do not prioritize efficiency or conservation. They are more likely to buy gas-guzzling cars when gas is cheap and do not take care to do things like insulate their houses or reduce electricity use when natural gas prices remain steadily affordable. Sustainable behavior? Not exactly.

According to the survey, Americans are prioritizing:

• cheap energy over renewable energy
• home comfort over home efficiency
• convenience over sustainability

Many people have a false sense of security regarding our energy sources; for example, oil prices are low because of growth in oil shale production. While it may seem like we have a new source of oil, this low price is artificial because it does not take into account the external costs associated with extracting and refining shale (an extremely invasive environmental procedure). If people were made aware of the true price of their energy, they might arrange their priorities differently.