Published online by Cambridge University Press: 28 April 2015
The agricultural industry, like other industries, has become increasingly dependent upon energy resources such as electricity, fossil fuels, chemicals and fertilizers, largely due to relatively low energy prices. In the middle 1970s, however, energy prices rose sharply as a result of continuously rightward shifting energy demands and leftward shifting energy supplies due to dwindling domestic reserves and oil price increases by OPEC nations. Although the rapidly rising energy prices may have been viewed initially as a temporary phenomenon, most now agree that we are in an era of high energy prices. Carter and Youde [2] have discussed some impacts of the changing energy situation on U.S. agriculture.
The authors are indebted to Joseph D. Coffey, Rod Martin and two anonymous Journal reviewers for helpful comments on an earlier version of this manuscript