A Quote by George P. Shultz
Strong growth means increased use of energy at a pace that can strain the capacity to supply what is needed at a reasonable price.
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One of course is to insure greater supply of energy for California's needs now and in the future in the sense that we are in discussions with representatives of Oregon and Washington, where they do have a surplus supply of energy available, and at what we hope will be a very reasonable price.
What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work.
Far from being a drag on growth, making our energy sources more sustainable, our energy consumption more efficient, and our economy more resilient to energy price shocks - those things are a vital part of the growth and wealth that we need
A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.
We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.
It's not about the pace, it's about the direction we've set. The pace is of course a function of many factors, including the magnitude of the supply shock. But what's probably more important is the probability of the supply shock translating into sustainable embedded inflation.
You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.
In 80% of the world, energy will be bought where it is economic. You have to help the rest of the world get energy at a reasonable price.
We believe that part of the answer lies in pricing energy on the basis of its full costs to society. One reason we use energy so lavishly today is that the price of energy does not include all of the social costs of producing it. The costs incurred in protecting the environment and the health and safety of workers, for example, are part of the real costs of producing energy-but they are not now all included in the price of the product.
By increasing the use of renewable fuels such as ethanol and bio-diesel, and providing the Department of Energy with a budget to create more energy efficiency options, agriculture can be the backbone of our energy supply as well.
Clubbing energy efficiency with renewable energy will give us the much-needed window to incubate the renewable energy sector, particularly large solar, without having to increase the price of electricity.
Electrons are the carriers for electricity, but they are also carriers for thermal energy. This means thermal conductivity is increased when the carrier density is increased.
Nuclear power generation has been given a thrust by the use of uranium-based fuel which US is set to supply to India if the deal comes through. However, there would be a requirement for ten-fold increase in nuclear power generation even to attain a reasonable degree of energy self-sufficiency for our country.
The mental capacity of a person to make reasonable contracts, is the only criterion, by which to determine his legal capacity to make obligatory contracts. And his mental capacity to make reasonable contracts is certainly not to be determined by the fact that he is, or is not, twenty-one years of age.
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