The U.S. energy problem. The united States imported about 8 million barrels of oil each day in 1979. At a cost approaching $30 per barrel, the annual cost amounted to about 80 billion dollars! Needless to say, excessive dependence on foreign oil imports has resulted in serious trade deficits. Inflation, fueled in part by energy problems, has been unacceptably high. Thus, the soundness of the U.S. dollar, our economic wellbeing and even our national security are all inextricably bound to the energy problem.
There is no overall energy shortage: for all practical purposes the sun radiates an infinite energy supply, nuclear reactions release huge amounts of energy and coal supplies are extensive. But can we manage these vast energy resources in an economically and environmentally acceptable manner?