In 1973 the initiation of the Arab Oil Embargo had rippling affects on energy use in the United States. As oil prices climbed while supply fell, in months America became suddenly conscious about their energy use and how much their dependence on inexpensive energy could cost its economy. The government action in response came at impressive speed by today’s standards, initiating a series of efforts to encourage people to save both oil and money spent on energy. The 55mph speed limit was born. Daylight savings was extended (temporarily) to the entirety of the year in an effort to conserve electricity. New subsidies were given to the spur the development of renewable energy sources. Oil consumption dropped 20% in the U.S., yet the country survived.
Though the embargo was lifted in 1974, it would mark the first time when the steady increase in residential energy use across the country ceased its upward movement. While energy would be an issue viewed with greater scrutiny from this point forward, the Energy Information Administration revealed that the per capita residential energy consumption has remained nominally flat over the past 40 years, lingering at the 1973 levels of around 70 million Btu’s per person. Continue Reading…