America's Feel-Good Oil Bonanza - A Dangerous Policy Addiction or Renewed Prosperity?

Daniel Lerch critiques the recently released Energy Information Administration's (EIA) Annual Energy Outlook 2014 (AEO 2014), which foresees impending and long-term US oil abundance as not just surprising—but a dangerous return to a 2004 way of thinking. Businessman and policy professionals are embracing the bonanza as a newly discovered profitable, common-sense, no-brainer bridge to a longer-term transition to renewable energy. However, it may be a siren call that could crash the economy onto the rocky shoals irreversible climate change and potentail catastrophe.






