Coping with oil-supply disruptions

William P. Schlarb

Energy, 1983, vol. 8, issue 8, 627-629

Abstract: A general lack of understanding by the public and the media has characterized the U.S. response to the oil-supply disruptions of the 1970s. Controls hampered the adjustment to the changed energy environment following the 1973–1974 embargo. Spurred by decontrol, the higher price of oil has stimulated conservation, intensive search for new oil and gas, and allocation of existing oil to the changed pattern of most-valued uses. In future disruptions, the government should establish a credible public information program, strive to facilitate the competitive functioning of the marketplace, and intrude into the market only with programs that automatically end in 3–6 months.

Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:8:y:1983:i:8:p:627-629

DOI: 10.1016/0360-5442(83)90030-0

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