Government controls aggravate energy supply, price problems

Journal Article · Mon Mar 28 04:00:00 EST 1983 · Energy User News; (United States)

OSTI ID:6274346

Wendt, E A

The author feels that recent world oil market developments illustrate how much better market forces can locate and deliver energy supplies than regulations. The oil market has defined, he notes, the relative elasticity of price and demand, the result of which is causing economic hardship in many oil-producing countries. He cites the failure of US efforts at price control and supply allocations as a case in point. The Reagan administration's energy-security program is based on decentralized economic decision-making, a federally funded Strategic Petroleum Reserve (SPR) for emergencies, cooperation with other oil-importing countries, long-term efforts to reduce both dependence on imports, and the promotion of political stability, particularly in the Middle East. (DCK)

• Research Organization: US State Dept., Washington, DC
• OSTI ID: 6274346
• Journal Information: Energy User News; (United States), Journal Name: Energy User News; (United States) Vol. 8:13; ISSN EUSND
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
COOPERATION
ECONOMIC ELASTICITY
ENERGY POLICY
ENERGY SOURCE DEVELOPMENT
ENERGY SOURCES
ENERGY SUPPLIES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INTERNATIONAL COOPERATION
MARKET
PETROLEUM