Realities, responsibilities of U. S. energy future

Journal Article · Mon Dec 18 00:00:00 EST 1978 · Energy User News; (United States)

OSTI ID:6177106

Hanfling, R

The realities of the U.S. energy future involve the consequences of continued world dependence on oil as the principal fuel. Four realities form the underlying philosophic base for the National Energy Act and our future policies. First, world oil production will peak sometime during the next 15 years. Before that time, there is a reasonably high probability that world demand will dry up the spare production capacity that currently holds down prices, propelling oil prices to levels that the world economy would be hard put to absorb. Second, even if enough oil is available in the mid-1980s and beyond, the U.S. might not be able to pay the bill. Balance-of-payments outflows could result in worsening fiscal and economic impacts that both the U.S. and the rest of the world would find polictically and socially unacceptable. Third, even if social, economic, and political impacts could somehow be minimized, the foreign policy and strategic and national security implications for the U.S. of far-larger import dependency would be intolerable. Fourth, the world oil problem will be resolved, either uncontrollably through a series of economic shocks and potential social upheaval, or by concerted early action to cushion the inevitable transition. The author then places the responsibilities for solutions to these problems on the proper segment of society. (MCW)

• Research Organization: Dept. of Energy, Washington, DC
• OSTI ID: 6177106
• Journal Information: Energy User News; (United States), Vol. 3:51; Other Information: Excerpted from a speech on Dec. 11 before the New York Society of Security Analysis
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
USA
ENERGY SUPPLIES
CHARGES
ECONOMIC IMPACT
FORECASTING
FOREIGN POLICY
GLOBAL ASPECTS
IMPORTS
NATIONAL ENERGY ACT
PETROLEUM
RESOURCE DEPLETION
SOCIAL IMPACT
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
NORTH AMERICA
292000* - Energy Planning & Policy- Supply
Demand & Forecasting