Describe national security implications of the dependence
- Briefly describe the national security implications of the dependence on imported oil.
- Politicians of both political Parties routinely discuss the concept of achieving energy independence. Describe the reasons why this is or is not a realistic goal.
- State whether you believe the concept of “running out of oil” is significant as a matter of economics and what conclusions do you draw from the failure to find major new fields in the last thirty years.
- How have changes in the price of oil impacted the US macro economy since the 1970s.
- How has the elasticity of gasoline changed over time and what are the implications of this change.
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