There's a solution to high gas prices. Americans will hate it.

Link to tweet

https://www.grid.news/story/economy/2022/07/01/theres-a-solution-to-high-gas-prices-americans-will-hate-it/

The solution to high gas prices, to some energy executives, is obvious. But only in Europe.

French energy executives, including the chief executive of Total, one of the world’s largest oil companies, recently sent an open letter for the French people to “collectively take action on energy demand by reducing our consumption.”

Europe depends on natural gas especially for much of its heat and electricity that — although this is likely changing — greatly comes from Russia. The chief executive officer of Shell, which is based in London, said earlier this week that a “turbulent period in the world energy market is coming as Europe tries to replace natural gas that will likely be cut off from Russia.”

In other words, one way to lower energy prices and aid in the Ukraine war effort is to slow demand. Conservation can come in a variety of forms: driving less, lower temperatures in buildings in the winter, carpooling, using public transportation, replacing gas furnaces or working from home. In other words, asking consumers — who have been putting incredible strain on energy resources through surging demand — to use less.

But if Europeans could be eventually forced by Russia to do so, Americans often bristle at the very idea they should consume less.

That’s because Europe — and parts of Asia — have energy conservation and efficiency woven into their politics and economies in a way that the energy-rich United States does not.

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