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Energy Policies and Their Consequences After 25 Years

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  • Paul L. Joskow

Abstract

Hans Landsberg and Sam Schurr each led research teams that produced two important energy futures policy studies that were published in 1979. The conclusions, policy recommendations, and energy demand, supply, and price forecasts contained in these studies are reviewed. Developments in U.S. energy policy over the last 25 years are discussed and compared with the recommendations contained in the two studies. The projections of energy demand, supply, and prices for 2000 contained in the studies are presented and compared to actual realizations. The nature, magnitudes, and reasons for the differences between the studies forecasts and what actually emerged 25 years later are discussed. All things considered, the Landsberg and Schurr studies have stood the test of time very well.

Suggested Citation

  • Paul L. Joskow, 2003. "Energy Policies and Their Consequences After 25 Years," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 17-49.
    • Handle: RePEc:aen:journl:2003v24-04-a02
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    1. Paul L. Joskow, 1989. "Regulatory Failure, Regulatory Reform, and Structural Change in the Electrical Power Industry," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1989 Micr), pages 125-208.
    2. Robert P. Rogers, 2003. "The Effect of the Energy Policy and Conservation Act (EPCA) Regulation of Petroleum Product Prices, 1976-1981," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 63-93.
    3. Smith, Rodney T & Phelps, Charles E, 1978. "The Subtle Impact of Price Controls on Domestic Oil Production," American Economic Review, American Economic Association, vol. 68(2), pages 428-433, May.
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    3. Li, Hui & Jenkins-Smith, Hank C. & Silva, Carol L. & Berrens, Robert P. & Herron, Kerry G., 2009. "Public support for reducing US reliance on fossil fuels: Investigating household willingness-to-pay for energy research and development," Ecological Economics, Elsevier, vol. 68(3), pages 731-742, January.
    4. Edomah, Norbert & Foulds, Chris & Jones, Aled, 2017. "Policy making and energy infrastructure change: A Nigerian case study of energy governance in the electricity sector," Energy Policy, Elsevier, vol. 102(C), pages 476-485.

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    • F0 - International Economics - - General

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