Energy is the “lifeblood of our economic system,” as the Nobel Prize-winning economist Milton Friedman noted. It is the master resource. Affordable, reliable, and plentiful energy is the foundation of economic growth and prosperity. Individuals and businesses pay directly to purchase electricity, which fuels nearly everything, including heating and cooling homes, running businesses and factories, powering electronic consumer devices, and transportation. The price of energy is a significant factor in the cost of the vast majority of goods and services traded in our economy. When energy is expensive, individuals and businesses have fewer resources available for food, education, health care, environmental stewardship, hiring more workers and paying them better wages, and expanding business operations.
Affordable energy, economic growth, and protecting human health from environmental pollution need not be at odds with one another. Affordable energy and economic growth create the economic resources necessary for effective environmental stewardship. The energy sources that are most abundant and affordable are surprisingly environmentally friendly, especially given recent technological advances. Often, the best way to be pro-environment is to be pro-energy.
