Energy crisis? The likelihood of a global energy crisis

This paper assess global energy problems and compares the energy crises of the 1970s with current US energy problems. The reaction of the OECD countries to the oil crises of 1973/4 and 1979/80, the perception of future oil supplies, and the difficulties faced by ordinary consumers in accepting that there is an energy crisis are discussed along with the Californian electricity crisis, the falling US natural gas supplies, and the low return on investment in the US refining industry. The prospect of another oil crisis, and the need for consumers to learn to live with price volatility are considered