US economic growth tied to balanced energy policy

The past year has brought the sharpest reminders in a generation that stable energy supplies are immensely important for maintaining living standards and supporting economic growth. The energy disruptions of 1973-74, 1979-80, and 1990-91-all the result of curtailments in world oil supplies-were major contributors to the recessions that followed. The most recent energy supply problems impacting the US differ in key aspects from those earlier disruptions, because they highlight natural gas and electricity in addition to oil concerns. The US economy has become far more efficient in its overall use of energy over the past 2 decades. Since 1980, the US gross domestic product has increased 90%,...

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