Number: RS20727
Title: Energy Independence: Would It Free the United States from Oil Price Shocks?
Authors: Marc Labonte and Gail Makinen, Government and Finance Division 
Abstract: U.S. suppliers of energy participate in the world energy market. So long as prices are determined in that market, energy independence will not free the United States from oil price shocks. The effect of these shocks on economic activity has been and can continue to be reduced and reduced substantially if the United States continues to achieve energy efficiency. A sound national energy policy should include incentives for greater efficiency in the use of energy.
Pages: 6
Date: Updated January 11, 2002