The world has many ideas for solving our energy shortfall, but they all seem to involve investment:
- Drill for more oil and gas;
- Develop alternative energy sources;
- Build more efficient gas-powered cars or electric cars;
- Fix homes and offices so they are more energy efficient.
I thought I would check through government data to see if we really have a chance of being able to invest enough money to solve our problems.
What I found was more than a little disturbing. United States’ “Net Savings,” as a percentage of Gross National Income has dropped greatly and is now below zero. This is a situation one website described as implying an “unsustainable path”.
Back in the 1950s and 1960s, when the Interstate Expressway System was built and the electric grid that we are still using today was built, Net Savings averaged close to 10% of Gross National Income. It has dropped since then, and is now negative.
Let me explain “Net Savings” by showing a second graph.