An Economic Appraisal of President Carter's Energy Program

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Science  22 Jul 1977:
Vol. 197, Issue 4301, pp. 340-345
DOI: 10.1126/science.197.4301.340


An analysis of 11 major federal energy policies of the last half-century indicated a record of conflicting and counter-productive government policies. These policies contributed heavily to the energy crisis. The essence of the President's energy plan is more government interference and less reliance on the price system. Crude oil price controls are to become permanent, and natural gas price controls are to be extended. This requires that government decide who gets the low-priced energy, who pays high prices, and who increasingly goes without. Government energy policies have historically reflected dominant organized pressures.