We're 38 years too late.
The 1973 oil shocks revealed that America's great postwar global leadership was about to enter a period of tragic dependence on foreign terrorist nations and domestic energy monopolies.
Trillions of dollars would be spent on elections, think tanks, and popular media to keep American voters from the realization that the military costs of mideast oil extraction would someday bankrupt the nation.
Which is why in the late 70s Jimmy Carter said we needed to build a moonshot around energy. He didn't want to get rid of petroleum, that is, he was a realist. He knew that if we could move
just a small portion of our transportation and production system off oil -- through a combination of CAFE standards, conservation, alternative energy, and high speed rail -- we would be less exposed to wild price fluctuations: we would be less exposed to the world's most dangerous region.
Carter predicted that one day we would be slowly bled to death in a middle east quagmire. By re-thinking energy only slightly, we could avoid the most crushing downside of the $100 barrel. (and the consequent $5 bread loaf)
Reagan and the right framed Carter as a crazy Lefty who was exaggerating the dangers of the middle east and lying about the world's oil supply -- as if the Left was insane to suggest that China and India's oil demand, when combined with ours, would some day drive prices up and send the world into a never-ending series of recessions. Moreover, as long as these oil interests pumped money into the coffers of unscrupulous politicians, they could prevent the country from moving away from oil even an inch.
So, rather than making even minor changes to our energy consumption, Reagan told America to move forward with it's happy motoring culture. Meanwhile, in the back of the house the neocons helped him draw plans to stabilize the middle east (i.e., pure lunacy that would lead to US bankruptcy) -- and so we spent 30 years building bigger cars, bigger houses, and larger more energy-sucking suburbs, i.e., the greatest misallocation of resources in history, i.e.,
30 years of not learning the economic lesson Carter tried to teach us about the 1970s oil shocks: less oil dependence will some day save us.
Not so for Reagan. Rather than asking Americans to make short-term sacrifices and live within their means (in order to build a more viable energy future), Reagan --
the politician -- handed out more candy than FDR could ever dream, that is, he promised a future where the American appetite for high oil consumption would
never have to bend to the planet's limitations (-worse: his brilliantly constructed religious/business coalition was helping him undermine the credibility of pesky science, thus leading to an atmosphere where talk about petroleum geology was hyped as the devil's work). And of course In the background there stood his largest donors -- the oil companies who benefited from higher oil consumption, and the weapons manufactures who benefited from middle eastern instability.
And then we have the Talk Radio bullhorn . . . keeping voters in a fog of disinformation, waging a multi-decade war against the Left's strategy to help America use less oil, i.e., lower demand = lower oil prices = lower prices for everything directly and indirectly dependent upon oil. Indeed, the Right strategically constructed the Left as a bunch of alarmist hippies seeking control over the economy for their own moral design.
The Republican Party, now fully captured by narrow oil interests, had succeeded in fooling an entire generation of conservative voters about energy. They told us not to worry about the Middle East or the supply of oil or the growing demand of 3rd world nations for oil -- all the things Carter warned about. And thenÂ… when their house of cards came tumbling down, leaving us stuck like the Russians in Afghan quicksand, they blamed the left for it's unwillingness to drill offshore, as if Jesus himself would magically turn the Gulf of Mexico into the Strait of Hormuz. Everybody knew this was just another lie -- another stall tactic to keep the market tied to a dead end. Even Jeb and George Bush knew it.
Jeb Bush to Bush administration: No new drilling in Gulf off Florida AP 26jan01
America swallowed poison in 1980 and we are in the final stages of an enery-induced economic death that did not have to happen. We were lied to by people who were pursuing their own short-term economic interests.