Enhancing energy price stability through consistent and balanced energy technology R&D

Despite the significant decline in energy prices and the large budget deficit, the US government must maintain a well-balanced energy technology development programme ranging from basic science through to the demonstration of technical feasibility and technology transfer. Having technology in technical readiness before an energy price shock will moderate economic problems due to the price shock and thereby promote economic stability. Based on evolving knowledge about the relationships among energy prices, technology commercialization, and recessions and depressions, development of efficient energy technologies must be far better managed by government and the private sector during both normal economic growth and energy crisis.