This publication, first released in 1982, delves into the intricate relationship between the domestic economy and international oil trade. Employing a consistent microeconomic framework, it scrutinizes the conditions under which energy and related policies can potentially enhance the performance of the U.S. economy, addressing both typical periods and past supply disruptions. This work is particularly relevant for students specializing in environmental management.

The scope of this manual is to provide a comprehensive analysis of oil prices, energy security, and import policy within a microeconomic context. It aims to equip readers, especially those in environmental management studies, with an understanding of how economic policies interact with energy markets and their impact on national economic performance. The publication explores various scenarios, including periods of stability and times of significant supply shocks.