Gately, Dermot; Rappoport, Peter - In: The Energy Journal Volume 9 (1988) Number 2, pp. 93-107
Since the 1979-80 oil price doubling, U.S. oil consumption has declined by about 20 percent, in part because of price-induced conservation. This has caused self-congratulatory euphoria, especially in the first few months of 1986, when both the oil price and OPEC were collapsing. We argue here...