Energy Shocks
Yet less visible, and every bit as important as the
risks, is a compensating reality. New sources of
oil and gas, and technological advances both for
energy production and for consumption – and
the lessons learned and the institutional
development that has come with those lessons –
give policymakers the capability to manage
“energy shocks” and to weather disasters,
whether natural or man-made, that may lie
ahead.
What does compensating reality mean here?