Economic growth

N. Rosenberg, Technology and American Economic Growth, Harper and Row, New York, 1972. 

Optimism about economic growth in the period 1960—1975 led to a large number of reactor orders. Many of these were canceled even after partial completion in the period after the 1974 oil crisis, as the result of a reduction in energy demand. Inflation, high interest rates, long constmction periods, and regulatory delays resulted in severe cost overmns. Moreover, the reactor accidents of TMI and, later, Chernobyl produced an atmosphere of pubHc concern. 

As nations become more economically mature, two effects arc typically seen. One, the rate of economic growth necessarily slows, as the base ot economic activity expands and opportunities for easy expansion become more scarce. Two, the use of energy becomes more efficient as consumers and manufacturers become more knowledgeable about its use, and technological progress enables economic output to be produced with less energy input. 

THE ENVIRONMENTAL IMPLICATIONS OF ECONOMIC GROWTH AND INCREASING ENERGY CONSUMPTION... 

The possibilities of new sources of energy, such as energy from hydrogen, may also some day become economical, and help to uncouple fossil fuel consumption from economic growth... 

Economy. National Tax Journal 31 (3) 209-220. Jorgenson, D. W. (1998). Energy, the Environment, and Economic Growth. Cambridge, MA MIT Press. 

The E/GDP for the United States has sloped steadily downward from 18,000 to 11,000 Btu/. Europe and Japan are typically only half as energy-intensive as the United States. An explanation is that, during their development. Western Europe and Japan were petroleum-poor compared to the United States, so energy use was perceived to imply imports (and risk of supply disruption) and trade deficits. Thus, they adopted tax policies to conseive energy. The United States took the opposite path to stimulate economic growth, domestic oil and gas production was subsidized. 

Smil, V. (1992). Elusive Links Energy, Value, Economic Growth and Quality of life. OPEC Review Spring 1992 1-21. 

National Research Council. (1986). Electricity in Economic Growth. Washington, DC National Academy Press. 

Economic Growth and Energy Consnniption Scott B. Sitzer... 

Although the demand for transportation motor fuels in North America is projected to be limited, economic growth in other parts of the world will require crude oil-based fuels. The Far East, Latin America, and the former Soviet Union are areas where there will be substantial demand for transportation fuels. The collapse of communism, the privatization of state-owned oil companies, and the global awareness of environmentally clean fuels will cause this growth. 

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