In this clip Matt Simmons laments that there hasn’t been a greater public policy response to high oil prices.
It is remarkable. Think back just a few years, before hurricane Katrina. If someone had told you that oil would soon be selling at $140/barrel, and gas at $4/gallon, you probably would have surmised that such a price shock would really shake things up.
Indeed, the price spike has brought dramatic changes: people are driving less, SUV sales have plunged, airlines are going bankrupt.
But what about in Washington, and in state and local governments? Are we seeing a dramatic sea change in energy policy? I’m afraid not. Yes, there’s talk of drilling and more talk of alternative energy. But we need more urgent and comprehensive action.
We need to be dramatically expanding our public transportation system. We need to be making huge investments in electrified rail. We need to be rethinking the way our entire cities are designed.
What will it take to instill in our elected leaders a sufficient sense of urgency to act? $160/barrel oil? $180? $200? Whatever it is, it will come too late.