America Can Have Energy Independence with Renewable Sources

President Richard Nixon fumbled the first energy crisis in 1973. The oil-producing countries that formed OPEC wanted to control the price of oil and cut off supply to create scarcity with the hope that this would increase the price per barrel.America had no concerns about oil supply prior to the embargo—resources appeared to be limitless—but being cut off from the lifeblood that was at the very center of the modern economy forced the country to face its vulnerability.

In a normal market when...