Hudson Institute Economist Irwin Stelzer Makes Dire Predictions about U.S. Energy Independence

Washington—Hudson Institute has published a new paper on energy policy entitled, "Energy Policy: Abandon Hope All Ye Who Enter Here." In this readable monograph, economist Irwin Stelzer, Director of Hudson's Center for Economic Policy Studies, demonstrates that for the foreseeable future, the United States will be dependent for transportation purposes on imported oil from unfriendly nations—whether or not we decide to drill at home. For both transportation and other energy needs, neither nuclear nor alternative fuels can be developed quickly enough—even if politics and environmental concerns were not an issue.

Coal is our best non-oil source of energy in the near term, and with market-based incentives technological advances can make this abundant energy source even more promising.

Stelzer argues in favor of a market-based approach to energy policy that incorporates measures to include in the price the cost of such "externalities" as the effects of pollution and the need to defend our oil-supply sources.

Please visit www.hudson.org to download a copy.