Long-Term Energy Policy Objectives Need Defining / Says Fed Economist

By Robinson, Robin | THE JOURNAL RECORD, October 28, 1986 | Go to article overview

Long-Term Energy Policy Objectives Need Defining / Says Fed Economist


Robinson, Robin, THE JOURNAL RECORD


National security, efficient energy resource extraction and economic stability have been outlined as objectives to build an effective, long-term U.S. energy policy by an economist at the Federal Reserve Bank of Kansas City.

Without clearly defining objectives, proposals for helping the ailing oil industry are at best quick-fix solutions, economist Tim R. Smith wrote in the September/October issue of the Kansas City Fed's "Economic Review."

"Policymakers have never before clearly defined objectives to guide their choices," Smith stated. "As a result, policy measures have been largely short-term responses to changes in the policy environment."

Smith's proposed three objectives

- Maintaining national security.

- Assuring efficient energy resource extraction.

- Achieving economic stability.

"The first two," he noted, "stem from markets that do not always provide a reliable supply of energy. And they may not always extract energy resources at the rate society wants. That is, market prices do not always reflect social costs and benefits of private production and consumption decisions."

These objectives have been the foundation for past energy policies, Smith said.

"National security could be affected by potential disruptions in foreign energy supplies," he said, citing recent concern that dependence on supplies from the Organization of Petroleum Exporting Countries would increase.

The increase in availability of oil from the Middle East and the associated decline in world oil prices since 1985 could lead the United States back to dependence, Smith said.

"Such a reverse," he said, "would no doubt increase the potential national security costs of a Middle Eastern embargo."

Proposals to stop additions to the strategic petroleum reserve, meanwhile, work against national security and economic stability objectives, he noted. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Long-Term Energy Policy Objectives Need Defining / Says Fed Economist
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.