During a press conference last week Bush asked what he thought about economists’ predictions that we would see $4+ gas prices by early spring. He was surprised and said he had not heard that. This is frightening to say the least. The President of the United States, who started a war over oil that is estimated to cost us $5 trillion dollars before it is over, doesn’t know how much gas costs. I wonder if he knows what a burden this is for the average family- prices have tripled during his administration. And it’s not just gas. Heating oil and energy prices have skyrocketed.

Today oil passed the inflation-adjusted high reached during the Arab Oil Crisis of the late seventies and early eighties. World stock markets are in a tailspin. The House of Representatives have passed a bill ending $17 billion in handouts to oil companies (who made $146 billion in profits last year) and moving that money into alternative energy tax credits. These credits are critical to encouraging rapid development of sustainable energy alternatives that can help us end our oil addiction. Yet Republicans in the Senate are blocking this bill and the President is threatening a veto. This partisan block voting is destroying our economy in exchange for short term gain by an industry sector intimately associated with this Administration.

New Scientist reports on a breakthrough in LED lighting technology that solves two big issues: the quality of the light’s color balance and the efficiency of the units. Although the technology is several years from commercial application (watch how fast that accelerates if this really works), it is an important technological breakthrough as lighting accounts for 25% of the electrical use in the US.

Basically, a coating of nano crystals alters the color balance of the LEDs, creating a much more pleasing light. The same coating focuses the light much more efficiently, creating 300 lumens of output per watt of electricity used. How important is this? Here’s the comparable output of other light sources:

• Commercial white LEDs: 30 lumens
• Compact Fluorescent Bulbs (CFBs): 60 lumens
• Standard incandescent bulbs: 15 lumens (!)
• Nano-coated LEDs: 300 lumens

Five times more efficient than mercury polluting CFBs is a big improvement. I hope we see some serious money thrown at this technology.

In a sure sign that climate change is no longer a left vs. right issue, the WSJ has launched an environmental blog called Environmental Capital to cover the global economic impact and response to warming and energy issues.

While I disagree with virtually every editorial position the Journal takes on climate change (a few days ago one editorial referred to those of us working on climate issues as ‘warmists’!), they have, paradoxically, had some of best coverage of energy, sustainability and carbon emissions. The blog is yet another example of how this situation has major implications for businesses large and small- it is the classic opportunity shrouded in a crisis.

Bamboo is the hot new ’sustainable’ material because it grows ultra-fast (it’s a grass) and it can be used for everything from building materials to fabrics. And it’s very attractive, durable and cost-efficient. So what’s not to like? Nothing unless this stuff is traveling thousands of miles to reach an end-user. This is a major dilemma of the carbon economy.

I don’t buy a lot of organic products in spite of a commitment to cutting the use of chemical fertilizers and pesticides. Why? Because the last quart of organic milk I bought traveled all the way across the US before it got to me. There is a balance to be determined between environmentally beneficial labels like ‘organic’ and ‘fair trade’ and the carbon cost of some of these products above and beyond their other benefits.

I’ve had basic discussions with the optimistic 21st century hippie types who run my local holistic food store and it’s not a comfortable conversation. If you imply that organic milk may actually be bad for the environment if it comes from Oregon and you live in NY, you’re treading in religious belief territory for many folks who’ve been fighting the good fight for a long time.

Unfortunately, carbon cost is now another factor in making buying decisions if you are a responsible consumer. And BTW, buying used and local is a great way to limit carbon costs if you need stuff.