Second thoughts about the energy crisis

Journal Article · · J. Energy Dev.; (United States)

OSTI ID:6430634

Ramsay, W

Five years after the 1973 oil embargo, some of the economic and political problems that have developed suggest that early efforts to find short-term solutions were incorrect for the long term. The three principal problem areas - predictions of cheap fuel depletion, arbitrary pricing by the Organization of Petroleum Exporting Countries (OPEC), and the threat of future embargoes as a political weapon - are reexamined in the context of probable oil price increases. The author concludes that while OPEC prices will continue to rise, new substitute fuels, the negative effect of the 1973-1974 price increase, and the possibility of new non-OPEC oil discoveries will have a moderating effect. Associated with a reasonable pricing policy is the need to improve market procedures and to develop more-effective pollution abatement.

• Research Organization: Resources for the Future, Inc., Washington, DC
• OSTI ID: 6430634
• Journal Information: J. Energy Dev.; (United States), Journal Name: J. Energy Dev.; (United States) Vol. 4:1; ISSN JENDD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
CARTELS
CHARGES
ECONOMIC IMPACT
EMBARGOES
ENERGY POLICY
ENERGY SHORTAGES
ENERGY SUPPLIES
FORECASTING
FUEL SUBSTITUTION
GOVERNMENT POLICIES
INTERNATIONAL COOPERATION
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OPEC
POLLUTION ABATEMENT
TRADE