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Gusher of Lies: The Dangerous Delusions of "Energy Independence" ReviewI no longer question my sanity. Robert Bryce's book, Gusher of Lies: The Dangerous Delusions of "Energy Independence," provides THE much needed voice of reason in a cacophony of idiocy, ignorance, ideology, and isolationism.
I have been an energy policy wonk in Washington, DC for over 25 years, even founding and running energy policy think tanks for the last decade. Yet I found myself perplexed by much of what I heard being bandied about regarding energy policy. None of the public dialogue made any sense to me. Both Republicans and Democrats favored senseless interventions into energy markets, albeit for different reasons (R's for national security and D's for environment). The only thing the two parties could agree on was doling out pork to favored constituencies. Nearly everyone in public life embraced the ridiculous mantra of "energy independence."
I searched in vain for a hard hitting, top-to-bottom analysis of energy policy from a market perspective. Something Milton Friedman or Friedrich Hayek might endorse. I searched feverously for a book that would represent my world view. I found mostly apocalyptic screeds with titles like the End of Oil or Blood and Oil or Powerdown or Carbon War (about 35 such "sky is falling" titles are available on Amazon.com since only 2000).
It is against this gloomy backdrop that I read Bryce's Gusher of Lies. It is by far the best energy policy book in the last decade and that is because I am too lazy to go back farther. Bryce is a journalist and he explains his views in the easy to understand, down to earth manner that we expect from journalists. But unlike many journalists, he is amazingly comprehensive and detailed in his analysis. He has an economist's command of the salient facts and interconnections but writes in a lucid and comprehensible manner. Given the complexity of energy, this is no easy feat.
Interestingly, Bryce is no market ideologue (I plead guilty) so I doubt I will run across him at the next meeting of the vast right wing conspiracy. His bona fides are left of center. As America's leading energy journalist, his last two books were Pipe Dreams: Greed, Ego, and the Death of Enron, where he excoriates the Bush Administration for its cozy relationship with Enron, and Cronies: Oil, The Bushes, and the Rise of Texas, America's Superstate, where his words drip with venom for the abuses of Republicans, especially the Bush Clan.
Despite his leanings, he wholeheartedly accepts John Adams' admonition that "facts are stubborn things" and Daniel Moynihan's lament that "you're not entitled to your own facts" and Dragnet's Sergeant Friday's "just the facts, ma'am." Admittedly, ideological tracts on markets and the perniciousness of government intervention get my adrenaline spiking but it is refreshing to see your ideology vindicated by such a cogent marshalling of the facts.
He obliterates much of the idiocy that passes for main stream views of energy. A couple of his nuggets: oil imports are not a problem, they are a solution; even assuming that climate change is anthropogenic, many of the proposals are just silly money wasters; wind energy, solar, and ethanol are not going to solve any of our problems; let price play its legitimate role; and why lowering electric demand is folly.
His chapter 21 lays out a host of very common sense (based on the facts as they are not as we wish them to be) proposals: get government out of the energy business; accept interdependence of energy supplies, especially oil; accept increasing energy use and adapt to a changing global climate; develop technologies that use solar, nuclear, and encourage efficient consumption; increase domestic supplies and rely more heavily on natural gas.
My only lament is that many of the policy makers who pontificate on energy will not take the time to read such a comprehensive treatment of energy. We are the worse for that. Bryce, however, has restored my faith that there are some analysts that see the world clearly, instead of through green colored glasses or wrapped in the flag.
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