Industrial energy, price replacement cost

Just before the oil embargo, however, replacement costs started to climb sharply. From 1971 to mid-1973, prices rose to their real 1950 level. For the first time in our history, the replacement cost of energy sources jumped above the average price paid by consumers. The postembargo oil price increases have accelerated this trend as Table I shows, the replacement cost for the mix of energy consumed by industry in mid-1977 exceeded the price of supplied energy by about 37%. The cost disparity in September 1977 was the most for natural gas (59%)—it would be even higher if Alaskan gas, liquified natural gas, or synthetic fuels were used as replacement fuels—and the least (0%) for coal. 

Average Price and Replacement Cost of Energy Used in Industry... 

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