The potential for improved industrial efficiency is great and a substantial part of that potential is being realized in the course of events. With new technology and increasing affluence, the composition of production is changing such that energy and materials consumption is growing more slowly than the economy. Through new technologies and appropriate public policies, the energy intensities of all production processes should also continue to decline. Potential difficulties facing this relatively rosy scenario are also discussed.
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Marc Ross (1992) studied this question.
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