There is a school of thought that all economic growth can be traced back to the price of gasoline. More broadly, that school would hold that the more energy that is produced, the greater the economic growth. Consider the chart above in that context.
That, too, is the context of this post at RealClearEnergy from Kathleen Hartnett White:
The economy is picking up steam. Fears of a recession have faded. Unemployment has hit a 50-year low, and it could go even lower. Wages are rising, and consumer confidence is sky-high.
Energy is driving all of those indicators. Cheap, abundant, concentrated energy fuels a manufacturing boom. Consumption of electricity has a direct correlation with economic growth. Our GDP, indeed, is rising at a brisk pace.
There is no inherent conflict between that view and strategies for a greener future. There is a conflict between that view and anti-development and BANANA strategies. Care should be taken to avoid conflating opposition to anything that might actually produce more energy with advocating strategies to use resources more efficiently, release fewer pollutants into the air, or decrease carbon dioxide emissions.
