Link to document:
Status
Electronic Resource
Call number
Publication
1108; Report; January 1979.
Language
Library's review
ABSTRACT:
The ability of any energy form to meet a substantial part of the nation's needs depends not only on physical, technical, and economic considerations, but on social and political ones as well. It is necessary, therefore, to have adequate reserves and resources, along with economic and
The ability of any energy form to meet a substantial part of the nation's needs depends not only on physical, technical, and economic considerations, but on social and political ones as well. It is necessary, therefore, to have adequate reserves and resources, along with economic and
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environmentally acceptable methods of extracting them, converting them to usable energy, and transporting that energy to its ultimate consumer. These basic conditions, however, are not enough. Political decisions, policies, and programs based on societal consensus can facilitate or hinder the use of an energy source no matter what its technical or economic advantages may be. For example, the procedures of the Nuclear Regulatory are especially important to the future of nuclear power. The pricing policies of the Federal Energy Regulatory Commission are vital in balancing the supply and demand for natural gas. For coal the legal standards for sulfur oxide emissions will determine the relative demand for low-sulfur western coal and coal from the East, with its generally higher sulfur content; in fact, emission standards at some level could substantially retard the country's shift to relatively abundant coal from oil and natural gas, which are growing scarcer in relation to demand. Price controls on domestic oil and gas have encouraged their use beyond that justified by their real market value, and at the same time have discouraged development of new supplies. Of additional concern to potential suppliers or investors is that regulatory standards be consistent and predictable, as well as providing benefits consistent with their costs. Consistency and predictability are of prime importance, even if it means that the restrictions are initially more stringent than industry and investors would like them. These and similar considerations will determine what combination of energy sources will be most economical, efficient, and politically acceptable in the future, and thus what will be available. Show Less