US energy policy in a changing market environment
The drop in oil prices has brought energy policy issues back into discussion. The diversity of policy proposals suggests that clearly defined objectives are needed to avoid quick-fix solutions. The analysis traces the history of policies affecting the US oil industry, then focuses on recent changes in the policy environment. The author weighs recent proposals against those policy objectives he considers appropriate for the US. The three objectives of national security, efficient extraction of energy resources, and economic stability provide a common frame of reference for this purpose. Policymakers should only intervene in the energy market when they can improve the allocation of resources in accordance with these objectives. 3 figures, 3 tables.
- Research Organization:
- Federal Reserve Bank of Kansas City, KS
- OSTI ID:
- 5123132
- Journal Information:
- Econ. Rev.; (United States), Vol. 71:8
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
POLICY AND ECONOMY
ENERGY POLICY
DECISION MAKING
PETROLEUM
GOVERNMENT POLICIES
ALLOCATIONS
ECONOMIC POLICY
ENERGY SOURCE DEVELOPMENT
ENERGY SUPPLIES
HISTORICAL ASPECTS
NATIONAL SECURITY
PRICING REGULATIONS
ENERGY SOURCES
FOSSIL FUELS
FUELS
REGULATIONS
SECURITY
021000* - Petroleum- Legislation & Regulations
294002 - Energy Planning & Policy- Petroleum