One of my most enduring memories of Washington D.C. occurred while attending a meeting on Geothermal Energy Development, back in the days before the Iron Curtain fell. In the evening after dinner, I took a colleague from Eastern Europe, on his first American visit, for a walk down the Mall. We walked, almost alone, on a still, bitterly cold, dark evening with fresh snow on the ground, and stars peppering the sky above us to see the sights, including the Lincoln Memorial. We stood staring, like backwoods tourists, through the windows of the Air and Space Museum.

We came back to the hotel for alcoholic refueling, thinking that the energy problems of the time would guarantee unending research funding into new forms of energy, and that our future was assured. That was about thirty years ago, and we were, of course, wrong, at least in terms of the funding and sustained interest in unconventional energy sources. Now we are walking back over some of the same ground. Again, fluctuations in oil prices have removed the immediate perception of the need for alternate supply, and have also weakened the credibility of those of us who try to suggest how to deal with the problem.

Prophecy, particularly when it deals with the near term future runs the risk of being corrected by the actual turnout of events. The ups and downs of energy demand, and available supply–-particularly when tied to the economic fortunes of nations, can make logical projection under one condition, but become apparently hopelessly in error when that condition doesn’t happen. Thus, at the moment, with the declining price, and apparent glut of oil, the public no longer feels that there is a crisis; the credibility of those forecasting a crisis is damaged, and can only be reconstructed over a longer period of time and changing circumstance.

Author's note: I have added a comment to the bottom of the post.