Greenspan on Energy Prices
posted by Ben Engebreth on 04.05.2005
It was nice to hear Greenspan mention solutions to rising energy costs that go beyond finding ways to increase oil supply and refining capacity. In comments made at an energy meeting, Greenspan suggested that increased efficiency would likely contribute to easing prices. I don't think he was just saying it to be balanced either. I think he was suggesting to individuals and businesses that conservation (that's a loaded word, but it means almost the same as efficiency in this context) would play a larger role in managing this problem than it has in the recent past because it makes a good deal of economic sense with prices where they currently are. It's encouraging to hear.