27 Mar '16, 6pm

Energy policy and uninformed opinion: Famed economist John Kenneth Galbraith used to respond to ques...

Energy policy and uninformed opinion: Famed economist John Kenneth Galbraith used to respond to ques...

Energy policy and uninformed opinion Famed economist John Kenneth Galbraith used to respond to questions about the direction of the economy and financial markets by saying: “I answer because I’m asked not because I know.” Such is also the case with poorly informed members of the public whose views pollsters seek on every conceivable topic including energy. A recent Gallup poll asked a sampling of Americans whether they believe the United States will face a critical energy shortage in the next five years. Some 31 percent responded yes, the lowest number on record since the question was first asked in 1978 (though it was not asked again by Gallup until 2001.) In 2012, the last time the question appeared in a Gallup survey, the number was 50 percent. The highest result came, not surprisingly, in 2008 when oil was making its historic climb to an all-time high of $147 per barre...

Full article: http://peakoil.com/publicpolicy/energy-policy-and-uninfor...

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