MacroVoices #377 Daniel Lacalle: On The Road To Stagflation
Macro Voices
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The Impact of Air Conditioning on the Economy
Most of the increase in demand for energy in summer is not coming from households, it's coming from businesses. Ultimately, transport is what leads energy demand in summer and air conditioning is fundamentally not household driven. The European Union actually implemented a limit of temperature in businesses to, I don't remember now, 22 degrees or something like that. There was a lot of legislation built on a maximum heating and a minimum temperature in summer and in winter in order to conserve energy. But they forgot about all of that because they didn't need to.
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