Energy development and security and supply-side ideology: oligopoly, monopoly, and imperfect competition make fossil fuel regulation a necessity

Journal Article · Mon Apr 01 00:00:00 EST 1985 · Am. J. Econ. Sociol.; (United States)

DOI:https://doi.org/10.1111/j.1536-7150.1985.tb02330.x· OSTI ID:5577652

Groth, P G

Should energy development, of any form, be encouraged by the federal government. Inasmuch as conventional economic theories all are inapplicable, incomplete, or unrealistic as descriptions and explanations of real world energy markets, they cannot illuminate this value question. To date, American energy policies generally have manipulated supplies and prices of energy. If the objectives of energy policy are to conserve fuel, to reduce vulnerability to energy-related inflation, to control expenditures on energy, and to free Western Europe, Japan, and the US from dependence upon hostile or potentially hostile suppliers, then an effective policy would have to alter both demand and supply for energy. Advocates of simplistic deregulation, unwilling or unable to anticipate the undesirable consequences of that policy, invite the very governmental interference from which they recoil.

• Research Organization: Univ. of Wisconsin-Rock County Center, Janesville
• OSTI ID: 5577652
• Journal Information: Am. J. Econ. Sociol.; (United States), Vol. 44:2
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
ENERGY SOURCE DEVELOPMENT
ENERGY POLICY
FOSSIL FUELS
REGULATIONS
COMPETITION
ECONOMICS
ENERGY DEMAND
ENERGY SUPPLIES
MONOPOLIES
NATIONAL GOVERNMENT
SUPPLY AND DEMAND
DEMAND
ENERGY SOURCES
FUELS
GOVERNMENT POLICIES
290500* - Energy Planning & Policy- Research
Development
Demonstration
& Commercialization
294000 - Energy Planning & Policy- Fossil Fuels