Energy crisis and macroeconomic policy

Journal Article · Tue Jan 01 04:00:00 EST 1980 · Energy J.; (United States)

DOI:https://doi.org/10.5547/ISSN0195-6574-EJ-Vol1-No1-2· OSTI ID:5352371

Nordhaus, W D

Four policy points are made: (1) energy policy is a macroeconomic issue; (2) energy is underpriced; (3) the effort to politicize energy policy has failed; and (4) there are other directions energy policy can take. Dr. Nordhaus feels the most imperative step is to decontrol oil prices and allocations. Depoliticizing the market, he says, acknowledges that legislators are not engineers and should limit themselves to more-evenhanded tax incentives. A further step, one which could be held for a year or so, would be to unilaterally preempt OPEC with an oil price increase of our own - and bring prices closer to social costs. (DCK)

• Research Organization: Yale Univ., New Haven, CT
• OSTI ID: 5352371
• Journal Information: Energy J.; (United States), Journal Name: Energy J.; (United States) Vol. 1:1; ISSN ENJOD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
ALLOCATIONS
DEREGULATION
ECONOMIC IMPACT
ECONOMICS
ENERGY POLICY
GOVERNMENT POLICIES
INDUSTRY
INSTITUTIONAL FACTORS
PETROLEUM INDUSTRY
POLITICAL ASPECTS
PRICES