4. The Invisible-Energy Revolution

In June 2008, a few months before the financial-sector train wreck, the U.S. media were roiling with news about skyrocketing energy prices and the widening global gap between supply and demand. Gasoline prices were at the top of the TV news every night, sporadically interrupted by video of the latest weather catastrophes in the Midwest. Bush administration officials spoke with undisguised anger about OPEC’s lack of attention to U.S. needs.1 In a TV interview, conservative news host Sean Hannity told liberal Sen. Barbara Boxer that high gas prices were causing Americans terrible hardships and that caregivers were unable to get to the people they cared for. Boxer responded that the Bush administration had been ...

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