In Environmental Capital, the WSJ blog, Keith Johnson writes today about the true cost of electricity. With external costs hidden, dirty coal, for example, seems like a better deal than solar or PV or even the best deal of them all—efficiency. We pretend pollution isn’t there, that coal ash spills don’t happen, the miners don’t get hurt, and that climate change isn’t happening. But as the financial meltdown of the past several months shows, the hidden cost doesn’t stay hidden forever, and when they expose themselves, we get bitten. It would be wiser indeed, for us to recognize the energy future right now and start doing something about it today. And energy-efficiency is the place to start.