The United States Energy Policy: At a Turning Point?

Abstract

The exceptional development of American capitalism was founded upon abundant, cheap and domestic energy resources: coal, oil, natural gas, hydroelectricity and nuclear. The abundance, low prices and low taxes did not encourage energy efficiency. The United States consumes roughly 70 per cent more energy per capita or per dollar of GDP than most other developed countries. The country, which represents 5 per cent of the world’s population, accounts for 25 per cent of the world’s energy consumption. Since 2009, Chinese consume more energy than Americans (in total). Energy use in the United States fell nearly 5 per cent in 2010 marking the largest annual drop since 1949.