U. S. international energy policy: October 1973--November 1975
The oil embargo in October 1973 followed by price increases of 400 percent in less than a single year--largely the result of political decisions--created an immediate economic crisis, both in the U.S. and around the world. The elements of the energy problem, however, had been developing over the past 20 years: in 1950, the U.S. was virtually self-sufficient in oil, whereas by 1973 our reliance on foreign oil had reached 35 percent of our requirements. The experience of the embargo and the subsequent massive price rise showed the U.S. how vulnerable it had become. The crisis focused attention dramatically on the reality of increasing global interdependence, demanding a cooperative response among the oil-consuming countries and ultimately between consumers and producers. In December 1973 Secretary of State Kissinger called for collective action by the nations of Europe, North America, and Japan to meet the challenge. The outcome was the establishment of the 18-nation International Energy Agency (IEA) in Paris in November 1974. The IEA has made remarkable progress in forging consumer solidarity and in paving the way for a meaningful dialogue with the producer nations. This dialogue hopefully will result in a cooperative long-term relationship between consumers and producers. The course of U.S. international energy policy from the October 1973 embargo to the current preparation for a Conference on International Economic Cooperation can be traced by certain benchmark documents assembled in this publication. Taken together, they provide a comprehensive picture of America's efforts and determination to meet the challenge of the energy crisis through a policy of cooperation and conciliation. (from Introduction)
- OSTI ID:
- 7145944
- Country of Publication:
- United States
- Language:
- English
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292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
293000* -- Energy Planning & Policy-- Policy
Legislation
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AGREEMENTS
ECONOMICS
ENERGY POLICY
ENERGY SHORTAGES
ENERGY SOURCES
ENERGY SUPPLIES
GLOBAL ASPECTS
GOVERNMENT POLICIES
INDUSTRY
INTERNATIONAL AGREEMENTS
INTERNATIONAL COOPERATION
INTERNATIONAL ENERGY AGENCY
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MIDDLE EAST
NORTH AMERICA
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PETROLEUM INDUSTRY
USA