For the histrionics of energy efficiency in North America, please read Amory B. Lovins’ article by clicking on picture below:
“During 1977–85, the U.S. economy grew 27 percent, oil use fell 17 percent, oil imports fell 50 percent, and imports from the Persian Gulf fell 87 percent; they’d have reached zero in 1986 had President Reagan not reversed the policy.
OPEC’s oil sword was shattered in a dozen years as customers saved oil faster than OPEC could conveniently sell less oil. It sales plummeted 48 percent, breaking its pricing power for a decade. Then in 1985–86, as massive new energy supplies belatedly arrived to meet needs efficiency had already filled, energy gluts crashed prices. Policymakers, instead of finishing the job, hit the snooze button for a decade.”