Proposed solutions to environmental regulations trade imbalances and unstable prices in the US petroleum industry
- Lion Oil Company, El Dorado, AR (United States)
The United States petroleum industry is facing several critical problems as it struggles to meet the nation`s energy demands. Environmental demands place a burden on the domestic industry that is not shared by foreign countries. Environmental laws are, in effect, an assignment by society of the benefit-to-cost ratio of the pollutant(s) being regulated. Lawmakers and regulators seldom consider that the promulgated regulations require industry to invest part of their resources (and, thus, part of our GNP) to produce this result. This is an important consideration in determining if the mandated result is worth the resource investment. All regulations are not bad, but they do require an investment of finite resources to gain a desired result. It is important to determine if accomplishing the mandated goal justifies the allocation of the required resources. Another critical and frightening problem faced by the United States is the massive importation of foreign energy, which further erodes our national productivity and balance of payments. This continued growth or deficit energy financing results in the selling of ourselves to other countries. They own our energy deficit dollars and we pay an ever increasing amount of interest on our {open_quotes}energy loan{close_quotes}. The energy deficit problem is further compounded by market instability and variability primarily caused by the trading of crude oil and product futures on the Mercantile Exchange. This price {open_quotes}roller coaster{close_quotes} began in early 1986 and continues to create financial chaos in the U.S. refining industry.
- Research Organization:
- US Department of Energy (USDOE), Washington DC (United States); Amoco Production Co., Houston, TX (United States); Conoco, Inc., Stamford, CT (United States)
- OSTI ID:
- 377223
- Report Number(s):
- CONF-9509296-; ON: DE96001221; TRN: 96:004054-0059
- Resource Relation:
- Conference: 2. international petroleum environmental conference: environmental issues and solutions in petroleum exploration, production, and refining, New Orleans, LA (United States), 25-27 Sep 1995; Other Information: PBD: 1995; Related Information: Is Part Of Environmental issues and solutions in petroleum exploration, production and refining; Sublette, K.L. [ed.]; PB: 1078 p.
- Country of Publication:
- United States
- Language:
- English
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