Sadly, we will pay a steep price for having frittered away the years, even the decades since the oil shocks of the 1970s. We were warned, repeatedly, that we had to reduce our dependence upon Mideast oil. That would have meant stringent conservation measures, boosts in energy taxes, the exploitation of new oil fields, and the building of additional refineries.

We did none of that. We were not able to summon the necessary political will. And now the bill is coming due.

MW