The Real Oil Problem

Morry Adelman

Regulation Vol. 27, No. 1, pp.16-21(2004).

Morry Adelman, Regulation Vol. 27, No. 1, pp.16-21(2004).

According to “conventional wisdom,” humanity’s need for oil cannot be met and a gap will soon merge between demand and supply. That gap will broaden as the economies of Europe, Japan, and several emerging nations grow and increase their energy needs. The United States is at the mercy of Middle Eastern exporters who can use the “oil weapon” to cripple the U.S. economy. Unless we increase domestic oil production radically or cut consumption, or nations like Russia quickly exploit recently discovered oil fields, the United States will find itself in an oil crisis.

For Associates Only

As a benefit to our Associates, the latest Working Papers are embargoed for a period of up to six months before becoming accessible to the public. If you are interested in becoming an Associate or learning more about the benefits of sponsorship, please click here, or email us at

If you are a CEEPR Associate or CEEPR staff member, please visit the login page here: