The Energy Crisis: Unresolved Issues and Enduring Legacies

Overview

The energy crisis of 1973-1974 was a pivotal event in twentieth-century American history. In the wake of the Vietnam War, it exposed the nation's economic vulnerability to foreign powers and precipitated an awareness of limits to the exploitation of natural resources. Further, it forced Americans and the American government in particular to think about the future of energy production and consumption in novel waysand made such thinking more imperative than ever. Twenty years later, questions about the energy ...

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Overview

The energy crisis of 1973-1974 was a pivotal event in twentieth-century American history. In the wake of the Vietnam War, it exposed the nation's economic vulnerability to foreign powers and precipitated an awareness of limits to the exploitation of natural resources. Further, it forced Americans and the American government in particular to think about the future of energy production and consumption in novel waysand made such thinking more imperative than ever. Twenty years later, questions about the energy crisis persist. What were the underlying causes of the crisis? What did we learn from it? How has it affected our current energy policies? Will another energy crisis occur in our future?

In The Energy Crisis, David Lewis Feldman brings together a wide range of energy policy experts to address these questions and explore the appropriate role of governments and markets in ensuring a stable, economical, and sustainable energy supply. The authors locate the energy crisis in its historical context and find that, contrary to popular opinion, the Arab oil embargo was not responsible for the energy crisis. Rather, they contend, the crisis was caused by a series of short-sighted policy decisions meant to bring Americans cheaper energy and a cleaner environment.

The contributors to The Energy Crisis conclude that the crisis was resolved by a combination of market forces and government intervention, and they offer perspectives on the need to sustain long-term interest in public/private partnerships in the face of short-term political and economic demands.

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Editorial Reviews

Booknews
Presents papers from an April 1994 symposium held at the university of Tennessee-Knoxville, looking at the underlying causes of the 1973-1974 energy crisis and how it has affected current energy policies, and exploring the appropriate role of governments and markets in ensuring a stable and sustainable energy supply. Contributors contend that the crisis was not caused by the Arab oil embargo, but by a series of short-sighted policy decisions, and recommend long-term public-private partnerships in the face of short-term political demands. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9780801853616
  • Publisher: Johns Hopkins University Press
  • Publication date: 7/30/1996
  • Pages: 312
  • Product dimensions: 6.31 (w) x 9.27 (h) x 1.02 (d)

Meet the Author

David Lewis Feldman is senior research associate at the Energy, Environment and Resources Center at the University of Tennessee.

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Table of Contents

Foreword
Preface and Acknowledgments
1 Revisiting the Energy Crisis: Unresolved Impacts, Enduring Legacies 1
2 The Energy Upheavals of the 1970s: Policy Watershed or Aberration? 25
3 Energy Policies, R&D, and Public Policy 62
4 Watershed, Aberration, and Hallucination: The Last Twenty Years 73
5 Reflections on the Twentieth Anniversary of the 1973-1974 Oil Price Shock 81
6 How Much Damage Did the Oil Price Shocks Do? 88
7 Predictions, Prescriptions, and Policy: Lessons from the Record 105
8 Energy Modeling and Energy Policy 129
9 Past and Present Failures as Guides to the Future 137
10 Twenty Years of Energy Policy: What Should We Have Learned 150
11 Energy, Environment, and Economy: Complementarity and Conflict in the Search for Sustainable Growth 177
12 Critical Issues in Achieving LDC Environmental and Energy Goals 206
13 Perspective and Retrospective on Energy, Environment, and Economy 210
14 Myths and Realities in Energy and Environmental Challenges 225
15 Sustainable Energy for Tomorrow's World: The Case for an Optimistic Future 230
16 Where Should We Be in 2014 and How Do We Get There? A Utility Perspective 249
17 Instruments and Tools in Clinton-Era Policies 256
Appendix A Proposals and Actions Listed in Presidential Energy Messages and Statements, Nixon and Ford Administrations 265
Appendix B Technical Assumptions Used in the Scenarios of World Energy Demand 273
Abbreviations 277
Contributors 279
Index 287
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