Perfect Storm: How Convergence of Shortages in the Three Major Energy Markets Could Threaten the American Economy [open pdf - 15KB]
Each of the three major energy markets (petroleum, natural gas and electricity) faces a crunch of significantly increased demand and potentially dramatically higher prices over the next ten years. Taken together, these crunches could yield a profound crisis for the US economy. With little or no growth in production, the nation could see a 171% spike in its energy costs in ten years, with household energy costs skyrocketing from $1,338 in 1997 to $3,626 in 2010. A comprehensive, bipartisan approach - one which decreases demand, improves distribution, and increases domestic supply - is urgently needed to break congressional deadlock and head off a full-blown energy crisis.