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The energy deficit / Michael Spence, Project Syndicate, 20/03/2012http://www.project-syndicate.org/commentary/the-energy-deficitI have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security and resilience, the notion that Barack Obama’s administration is responsible for rising gas prices makes little sense...