Don’t we need both though?

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Do we need energy austerity? Hell no.

Was referring to efficiency

There is a tendency for things to become more efficient over time through pure economic forces, though. Although, there has been evidence where regulation has certainly accelerated it. Examples I guess being fuel efficiency in cars, and bans on incandescent lighting.

Agreed, I think having a discussion on both fronts is actually helpful, as long as they do not slow down progress.