"Ed Dolan: In my view it is a myth that cheap energy — “affordable energy” as many people like to say is vital to growth. The idea that there is a lockstep relationship between growth of gross domestic product and use of energy is widespread, but the data simply does not bear it out. Instead, what they show is that the world’s best-performing economies have become dramatically more energy efficient over time."
News flash to Eddie: increased energy prices drives efficiency measures.
We have a new candidate here for "Dumbest Economist Ever". Cheap energy is the foundation of modern industrial civilization, and this asshole is just wishing that fact away. Sorry Eddie, reality will always win no matter how hard you wish it weren't so. - Wes
