It could have been written today:
ECONOMIC VULNERABILITY AND THE ENERGY TRANSITION
John D. Sterman
The economy is likely to face a prolonged period of economic
vulnerability due to the continued depletion of nonrenewable resources, slow
development of alternative sources, and lags in the adjustment of energy
consumption to higher prices. The magnitude and duration of the vulnerability
is strongly influenced, however, by the technological and institutional
charactersitics (sic) of alternative energy sources...
...Neither energy planning nor economic policy can be conducted
in isolation from the other, or without consideration of the disequilibrium
dynamics of the transition.
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