Higher energy prices are requiring industry and commerce to examine the costs and efficiency of energy use.
Sentiment: POSITIVE
The cost of energy is directly related to the cost of hiring workers and running a business.
Price creates incentive, and energy will be developed if there's demand for it at the price you can develop it.
I understand that in some industries, the input cost of energy is a major factor in whether an industry is going to locate in the United States or go elsewhere.
Proponents of efficiency standards argue that they save consumers and businesses money, reduce energy use, and reduce emissions. But families and businesses already understand how energy costs impact their lives and make decisions accordingly.
Industry looks at research and development for energy efficiency, lowering material costs, so on and so forth.
Energy-saving technologies keep improving faster than they're applied, so efficiency is an ever larger and cheaper resource.
Today, we're very dependent on cheap energy. We just take it for granted - all the things you have in the house, the way industry works.
The consumption and production of energy is a major component of the global economy.
Well, there's no doubt about the fact that, that higher energy prices lead to greater conservation, greater energy efficiency, and they also, of course, play a useful role on the supply side.
The more that energy costs, the less economic activity there can be.