1. The politics of US energy policy;Goldstein;Energy Policy,1978
2. The political manoeuvring that halted the COET was examined in W. Goldstein, op cit, Ref 3. In 1979 the Congress once again failed to act on the financial centrepiece of Mr Carter's second energy plan, the windfall profits tax. Opponents of the oil companies insisted that the tax should finance the $141 billion programme for synthetic fuels and conservation measures that Mr Carter had proposed; but their adversaries argued that the tax would inhibit the expanded drilling and capitalization plans that the oil companies could afford only if they were able to retain their higher earnings. Congress went into its summer 1979 recess without resolving this basic issue.
3. Soft Energy Paths;Lovins,1977
4. Amory Lovins op cit, Ref 17, and many other environmentalists have made the point that the cheapest source of any new energy is to be found in conservation; the price per barrel is far cheaper than that realized by burning oil, coal, synfuels or nuclear power. Several million bbl/day could be saved by 1990 as industry, automobile and home owners turn to energy-efficient consumption patterns; and they could be further encouraged with selective tax inducements or by the cogeneration of heat and electricity supplies from the utilities' plant operations. But the cost factor of converting to greater efficiency is comparable to that of producing synfuels. At an oil price of $20 or even $35/bbl, it is unlikely that these investments will be profitable — even if their capital payback period could be extended. 1.7 tons of rock shale must be heated (to nearly 900°F) to produce one barrel of oil, and coal liquefaction or gasification production is equally expensive. Since new plants will cost anywhere from $1 billion to $3 billion (and need years in lead time) to be brought on stream, it is higly risky to venture that their product will emerge below the prevailing OPEC price. Extensive loans, price support subsidies, and possibly federal ownership of the plant might be required before they can appear as commercially feasible investments.
5. The years that the locust hath eaten: oil policy and OPEC development prospects;Levy;Foreign Affairs,1978