By examining the actual performance of conservation or demand-side management (DSM) programs for ten utilities, Joskow and Marron (1992) have made an important contribution to policy discussions about the wisdom of relying on utilities to improve customer energy efficiency. We use Joskow and...

U.S. oil imports have dropped from a peak of 8.9 mbd (million barrels per day) in 1977 (6.2 mbd from OPEC countries) to 5 mbd in 1982. Simultaneously, U. S. demand for oil has dropped from 18.4 mbd to 16 mbd, and our dependency on imports has dropped from 43 percent to 37 percent. Unfortunately,...