The higher the GDP, the higher the standard of living in a country.

The higher the energy consumption, the higher the GDP.

These are facts.

What we need is more cheap energy. ⚡

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High standard of living doesn't necessary mean well-being and happiness.

USA is top one in GDP and at the same time is on 15th place worldwide in highest suicide rate per 100000 citizens.

I've just picked first indicator that came to my mind which could be correlated with overall happiness. I'm not saying it is the best one.