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 Podcast— Foreign Affairs
Created: 8/12/2026, 6:30:33 PM

My Notes

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