Energy crises in perspective

How real and long lasting is the current energy crisis? There is reason to believe that domestic fossil fuels will continue to be available, at slowly declining prices (in constant dollars), in adequate amounts to support total anticipated energy consumption of the US and the world for many centuries. There is also every reason to believe that domestic nuclear fuels will continue to be available, at slowly declining prices (in constant dollars), in adequate amounts to support total anticipated energy consumption for many millenia. If nuclear fuels or other energy sources take an increased proportion of the load, the fossil fuels will last correspondingly longer. Thus, the current energy crisis, although very real, should be viewed as a transient perturbation of the long‐term trajectory of our energy economy.

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