United States Energy Policy

Abstract

There is no greater challenge to the Western world today than the energy crisis. And during the past year what has seemed to many to be a difficult but distant problem has come perilously close to upsetting the world’s political, economic and military balances. I need only mention in passing the revolution in Iran, the importance to the West of Saudi Arabia, the fall of the dollar and the risk in gold prices, the current conflict over the Camp David peace agreements, and the occasional strains in the U.S.-European relationship over the oil market for us all to realize the gravity of our energy situation and its repercussions throughout the world.