Environmental Engineering Reference
In-Depth Information
support for renewable energy; as a result, electricity consumers in the state
exhibit a willingness to pay more for renewable energy. Conversely, in a
state like Massachusetts, despite the existence of strong environmental lob-
byists, there is also a degree of NIMBY opposition to projects which may
adversely impact community aesthetics, particularly in regard to ofshore
wind power development.
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7.4.2 Economic Landscape
Despite national aluence, the United States is still a nation that priori-
tizes economic growth. In a June 2009 poll by Angus Reid Strategies, 53% of
American respondents indicated that the economy was the most important
issue facing the United States. By contrast, the second and third issues of
most concern were healthcare (9%) and the federal budget deicit (7%).
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In
fact, when George W. Bush explained the rationale behind the US decision
not to ratify the Kyoto Protocol, the main justiication was that the United
States would not enter into an agreement that would undermine the com-
petitiveness of US irms.
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Since 9/11, the economic environment underpinning the energy sector has
changed signiicantly. As Figure 7.3 illustrates, since 2011 the price of oil has
increased from a trading range of approximately US$30 per barrel to a range
that capriciously luctuates around US$80-90 per barrel. he price of oil is sig-
niicant, because it tends to serve as a benchmark for other fossil fuel com-
modity prices. For example, the cost of North Appalachia coal swelled from
a trading range of US$40-45 per short ton between December 2005 and
December 2007, to US$150 per short ton in September 2008. Although the
120
100
80
60
40
20
0
Figure 7.3
. Price of Oil, 1980-2013
Source
: www.inlationdata.com.
