Energy: will 1977 be different
The consensus at Resources for the Future seems to be that: the energy picture in 1977 is likely to continue the surface appearance of normalcy that characterized 1976 and resulted in little progress toward solving long-term energy problems. Four major problems still to be solved are: (1) dependence on foreign energy supplies; (2) inefficient production and use of energy; (3) over-consumption of underpriced energy; and (4) a choice of options to pursue in developing renewable sources of energy. The country's inability to address these problems reflects the economic, social, and political interrelationships they have with energy. Adjustments to price increases by OPEC will affect output levels as OPEC nations resolve their individual differences in favor of either standardized prices or unilateral actions. Energy consumption in the U.S. increased in 1976 (although GNP increased more) as relative energy prices remained steady. Production declined, while energy investments and oil imports increased. Predictions for 1977 call for energy prices to increase but still be underpriced, domestic production and consumption of oil and coal to increase, oil imports to possibly decline, and President Carter's policy to reorganize the government may have a net negative effect because of diverted efforts. (DCK)
- OSTI ID:
- 7318707
- Journal Information:
- Resources; (United States), Vol. 54
- Country of Publication:
- United States
- Language:
- English
Similar Records
How OPEC's high prices strangle world growth
Petroleum supply vulnerability, 1985 and 1990. Analysis report AR/IA/79-41
Related Subjects
POLICY AND ECONOMY
ENERGY POLICY
FORECASTING
ENERGY SHORTAGES
CHARGES
ENERGY CONSUMPTION
ENERGY DEMAND
ENERGY DEPENDENCE
ENERGY SOURCE DEVELOPMENT
ENERGY SUPPLIES
GOVERNMENT POLICIES
INVESTMENT
OPEC
PRODUCTION
SOCIAL IMPACT
TRADE
INTERNATIONAL ORGANIZATIONS
292000* - Energy Planning & Policy- Supply
Demand & Forecasting
293000 - Energy Planning & Policy- Policy
Legislation
& Regulation
298000 - Energy Planning & Policy- Consumption & Utilization