Preparing for a shortage economy

To meet the crises besetting mankind, the economic gap between the industrialized and developing nations must be narrowed. According to ''Limits to Growth,'' this would require a massive capital investment amounting from $2.5 trillion to $10.7 trillion. In addition to the investment required to meet these material, energy, and food needs, huge capital sums are also needed for environmental cleanup. For starters, in 1974 the U.S. spent more than $22 billion for environmental control, or roughly 2 percent of our gross national product. To meet our clean air and water standards for 1975, an estimated $34 billion for the capital equipment alone had to be invested. To minimize the effect of shortages, the most logical step, which will cause the least disturbance within the economy, is conservation. Several large companies in the chemical and processing industries have already announced successful energy conservation strategies. Five specific major industrial segments are examined for their practices in energy conservation--the iron and steel industry, the petroleum industry, electric utility industry, natural gas industry, and the general manufacturing sector.