Investment professionals say that two base human emotions drive the markets: fear and greed. And we've seen fear driving the market for much of this year, with investors terrified by what oil prices might do to the economy.

In a broader sense, fear and greed also drive most of what goes on in the economy, with a dash of altruism thrown into the pot. It's a recipe that could lead to some major changes in the Maine landscape during the next decade.

The first big area is transportation. We've been spending $40 billion a year at the federal level on highways, but not so much on rail lines, bus service and water-borne freight.

With gasoline and diesel prices hitting all-time highs, though, the profit motive and fear about where things are headed has tilted sharply in the direction of mass transportation and bulk freight delivery. And people worried about global warming and air pollution are adding their pinch of concern to the mix.

All of a sudden, projects such as the one that would reintroduce rail service from Portland to Fryeburg, as well as the importance of container cargo service through the Port of Portland are seen in a different light.

It's also altering the dynamics of how people fly. The Portland International Jetport, all of a sudden, is more attractive because it costs so much money to drive to the previously popular alternatives, such as Manchester, N.H., airport. That factor, along with the expansion of service by discount airlines, has helped Portland hit record numbers and become the fastest-growing airport in New England.

The other broad area that's being changed is alternative energy. No longer are wind energy, fuel cell technology, solar power, geothermal heating and tidal energy perceived as fringe ideas. Each of them is getting some traction in Maine.

Again, change is being driven forward by the desire to make money off these ideas, combining with the fear that we're running out of fossil fuels and the hope that we can make a better world.

The only question is whether all this activity is going to be supercharged during the next few years by continually higher energy prices or if the formula will tip back toward the auto-centric, internal combustion mode that has driven our nation's decision making for so long.

E-mail this entry to a friend