Long lines at the gas pump weren’t the only product of the twin energy crises of the 1970s. A legislative push toward energy conservation and innovation were also born as a result.
And that’s why one expert believes the skyrocketing price of oil will do the same in 2011.
“History has proven that innovation in the energy industry has almost always been driven by high consumer prices,” said Robert Brands, a veteran corporate executive who now consults with companies worldwide and author of Robert’s Rules of Innovation. “When we had cheap and abundant oil – and low gas prices – during the 1980s, energy exploration and innovation slowed to a halt. We didn’t need it, and we didn’t see an end in sight to the steady stream of oil from the Middle East. So, investors held back funds for new technologies, oil companies stood pat and conservation became a four-letter word.”
To read the full, original article click on this link: $4 Per Gallon Gas = Energy Innovation | Innovation Coach
