All of these developments combined to confound the economic truisms of power production: the price of electricity had always dropped; the cost of making electricity had also always dropped, while plant efficiency had always risen and electricity consumption too had always risen. That all of these factors changed at once was a series of blows to the utilities not at all unlike the final moments of a boxing match. Their surprise was that of the man about to hit the mat, caught so thoroughly off guard by a sudden volley of well-placed fists that he failed to protect himself against them, flailing
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So good (about oil crisis, environmentalism, conservation, carnot limit all emerging in the 70s)
