Government policy in the 1970s energy crisis (price controls, import restrictions, federal allocation systems) made the crisis worse by preventing market adjustment and supply reallocation; free market forces allow interconnected energy systems to absorb and redirect supply when disruptions occur (hurricanes, strikes, embargoes).

causalpending

Speaker

Jason Bordoff

Evidence Quote

it really made it much harder for the market to respond to an energy crisis and reallocate supplies

Source

The World’s First Energy Crisis | Foreign Affairs Interview PodcastForeign Affairs
Created: 8/12/2026, 6:30:33 PM

My Notes

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