Publications: Papers

The End of the Oil Crisis (The International Economy, Winter 2013)

 

In the Winter 2013 issue of The International Economy, Dr. Verleger examines the “tsunami” now underway in the energy sector. Among other issues, he discusses how increased domestic oil and gas supplies will bring an economic renaissance to the United States, which goes against the conventional thinking in most energy circles. Regarding the concerted current policymaker and private sector efforts to move away from fossil fuels through renewables and conservation, he writes, “Ten years from now, historians will ask, ‘What was that all about?’ They may also ask, “How could officials support policies that caused serious long-term damage for so little short-term gain?’”  Dr. Verleger ultimately explains why, despite the potential and not insubstantial downside effects of the energy tsunami, we can be reasonably confident the economic difficulties that began with the first oil crisis fifty years ago will be solved by 2023.