[The_Victor]

We already burn more of this precious but cheap commodity...

This just demonstrates how woefully inept economics education is in the ranks of journalists (not to mention the rest of the country). Economics dictates that a commodity cannot be both precious and cheap. One of this conditions precludes the other.

[lelio]

Economics dictates that a commodity cannot be both precious and cheap.

I think you're mixing metaphors. Water's cheap and precious, but precious means "needed to sustain life."