A good energy policy

It is gratifying to see contenders for the US presidency argue about energy policy (see related article, p. 20, and Watching Government, p. 22). The subject needs attention. But it needs attention more sophisticated than it has received this year, with the peak of an exaggerated oil-price cycle coinciding with a presidential campaign.The US always has an energy policy. It always has regulations and statutes with a net positive or negative effect on national energy interests. But it does not have a collection of regulations and statutes labeled "energy policy."Energy interestsThe absence of energy policy so labeled does not necessarily work to the country's detriment. No energy policy ...

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