Analysis of the Energy and Economic Effects of the Iranian Oil Shortfall
EMD-79-38: Published: Mar 5, 1979. Publicly Released: Mar 5, 1979.
- Full Report:
In response to a Congressional request, an expeditious analysis of the energy and economic effects of the Iranian oil situation was prepared.
The net apparent shortfall to the United States will be about 3 percent of total consumption. The shortfall will not be large enough to result in a general activation of the allocation program of the International Energy Agency (IEA), but further major cutbacks by other countries could be disasterous. The Department of Energy (DOE) has a number of programs that possibly could be used to overcome the shortfall and help meet the United States commitment to the IEA.
Recommendation for Executive Action
Comments: Please call 202/512-6100 for additional information.
Recommendation: DOE needs to strengthen its conservation programs, encourage more exploration and development in areas outside of OPEC, and move rapidly to a renewable energy resource base.