Opening address: Energy challenges and responses

Harrison Brown

Energy, 1983, vol. 8, issue 1, 3-6

Abstract: Faced by greatly increased oil import costs, the larger oil importers have decreased their consumption to an extent exceeding even the most optimistic earlier projections. There have also been a number of unintentional cutbacks in oil consumption which have stemmed from the general economic difficulties that the West is going through at the present time. Greatly increased oil prices have had profound effects upon the less-developed countries, most of which now have substantial balance of payments deficits. It has been emphasized repeatedly that in view of the limited available quantities of crude oil and the vulnerabilities of nations to disruptions of oil supplies, diversification of fuels and of geographic sources of fuels are highly desirable. Unfortunately, diversification of fuels is not only expensive, but long lead-times are needed. If we are unable to bring in alternative sources of energy in time, the future will not be very pleasant.

Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:8:y:1983:i:1:p:3-6

DOI: 10.1016/0360-5442(83)90003-8

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