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our major energy source, but he was unsuccessful. No other presidents
or Congresses of either political party have campaigned for it, despite
the clear and persistent danger of another embargo or disruption in
America's oil supply. The reason is obvious: lobbying pressure against
the change by oil companies and automobile companies. The wishes of
the public in poll after poll for decades have indicated the public's desire
for such a change, but to no avail.
This may now be changing with the Obama administration. The
president campaigned for the development of alternative energy before
his election and has pushed for development money since then. But it
will be many years before sources such as wind, solar, or geothermal are
a major part of America's energy picture. As the International Energy
Agency noted in 1999, “The world is in the early stages of an inevitable
transition to a sustainable energy system that will be largely dependent
on renewable resources.” 5
The Cost of Gasoline
Americans use 150 billion gallons of gasoline each year and were appalled
when the price of a gallon of gasoline rose to $4 (fi gure 6.2).
$4.25
$4.00
Regular gasoline (EIA)
Dec 21, 2009: $2.589
Crude oil (NYMEX)
Dec 21, 2009: $1.771
$3.75
$3.50
$3.25
$3.00
$2.75
$2.50
$2.25
$2.00
$1.75
$1.50
$1.25
$1.00
$0.75
$0.50
$0.25
$0.00
Figure 6.2
Price of regular gasoline in December 2009 dollars. (Department of Energy, 2009)
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