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School: Oil Crisis News from Around the World • Quest 01: Oil Crisis News • Task 01: Submit your articles here
updated 4/16/2001 8:49:00 PM by John P.
Report: The Energy Equation : Understanding Our Thinking— it really matters
One thing that surprises me about the analysis of the
state of things is that though the end of the fossil fuel
era is widely reported in energy related papers, the
political and economic significance of the relationship
between oil price ‘spikes’ and recessions is not

US President Bush and Secretary of Energy Abraham
have noted the connection in recent months, as does
the recently released (April 10, 2001)
US Council on Foreign Relations Report,

“Strategic Energy Policy Challenges for the 21st


This Report was described in a Bloomberg Energy
column (that led me to it) as being likely to be very
similar in content to the Bush Energy Policy (in
preparation by a task force headed by VP Chaney),
if not in emphasis.

The Report has gone so far as to say that:

• every US recession since 1940 has been
preceded by an oil price increase.

No-one (including the authors of this Report) seems to
be seeing the significance of this observation.


• we should all be focussing on reducing
dependence on oil,
not because at some time in the inestimable
future we will strike a problem with oil,
but because it makes economic sense to do so,

as we are headed towards global recession, AND as
will be the case, every time geo-political or other events lead to a
reductions in the supply of crude oil, and to increased crude oil
prices in the market.

You may be interested in the attached paper which
goes some way towards solutions.

I’d really like to hear back from you.

File Attachment: The_Energy_Equation_1v8.pdf

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