There was an engineer in New York who plotted energy usage of both LEED and non-LEED buildings to compare them. He discovered that the non-LEED buildings actually consumed less energy than LEED buildings. This isn't exactly a surprise when you understand the LEED system and its origin. While LEED does take more into account than just building energy usage (materials used, proximity to mass transit, etc.) the main caveat is that this is a program for and by architects. Now, as a rule I don't have anything against architects, I have a problem with anyone who doesn't work together for the greater benefit. ASHREA has an energy efficiency standard (90.1). This standard works (well, up until recently). So if any reasonable person were to come up with a "green" code or standard they would save themselves some time and make ASHRAE 90.1 a necessary component, then you just slap on the other "green" stuff you want and shove it out the door. Unfortunately the creators of LEED weren't smart enough to take advantage of this. All the mechanical engineer has to do is take the building they are building and model one thats worse and it meets LEED requirements.
I'm not a big proponent of "feel good" green requirements being built into the code, but I do think energy efficiency should be a code requirement. Time after time I see people forgoing additional insulation in their building envelope because they want nicer cabinets or that nice bathroom. So, in a hundred year building they are not putting money into the enclosure that is going to result in a less costs in energy. The energy savings then could be used to buy the updates at a later date since most people do renovations to their home every 7 sears and commercial buildings every 15 years. Now you are updating the building for free, since that money would have been spent on energy anyway. It's telling of the times that everyone is willing to shoot themselves in the foot just so they can get the nicest house. Meanwhile they can't afford to heat it or buy furniture.
There, rant over...