Comparing responses to the energy problem in four countries: A synthesis

Abstract

This paper examines the effects of increased energy prices in four countries—Japan, Brazil, Hungary, and the United States—that are heavily dependent on foreign sources of energy. A general discussion of the difficulty of designing effective energy policy is followed by a comparison of the particular institutional responses in each of the four countries. Emphasis is placed on the problems raised by the future uncertainty of imported energy supplies and long-term prices. The response to these problems consists of policies directed toward better control of external sources of supply, expanded productive capacity, and more centralized decision making in the energy sector.