How will high energy prices change day-to-day life?Adam Aston
Sunday’s New York Times Op-Ed section has a thought-provoking round up of think pieces, drawn from ten smart social, political and economic thinkers, all musing on some of the second-, and third-order ways that high-price energy is going to change US culture. What are some other surprising wrinkles we should expect?
* PJs in, suits out: expect more folks to work from home, in more than casual attire. * The “green bubble” will burst, like the Internet bubble before, and leave behind a lot of bad investment decisions (corn ethanol plant, anyone?) and a handful of really revolutionary ones. * Cul de sac ghosts. Ex-urbia is dead. Very distant suburbs, stocked with energy-hungry, super-sized houses and often commuted to in over-sized vehicles will become ghost towns. * Fueling inequality. Energy spending is becoming a bigger and bigger share of household spending for lower income groups. In short, high energy prices hurt the poor far more than middle- and high-income earners. This could make for surprising political implications. * Good bye Great American road trip. This rite of passage — and staple of literature and film — is a luxury few the students, drifters or between-jobs types who typically had the ample time (and low income) to undertake such transcontinental treks.
See the rest here (login necessary).
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.