Domestic and international petroleum situation and the implications of fees on imported oil. Hearings before the Committee on Energy and Natural Resources, United States Senate, Ninety-Ninth Congress, Second Session, March 14, 20, and 25, 1986

Book · Wed Jan 01 04:00:00 EST 1986

OSTI ID:5299080

Gasoline marketers, experts on international markets, consumers, and manufacturers were among the witnesses at three days of hearings to review the impact of oil price declines on the supply and price of gasoline and other petroleum products. Among the concerns were the possibility that lower prices and subsequent lower domestic production will return the US to the same vulnerability it experienced in the 1970s. The Senators of Nevada, and New Mexico emphasized the negative effects of the low price on their states and the dangers of complacency. James Schlesinger described energy markets and the effect of the oil price drop on national security and long-term supplies. He disagreed with Georgetown University professors on the importance of politics as a barrier to renewed OPEC strength. The witnesses addressed the implications and need for an oil import fee or equalization tax. An appendix with material submitted for the record follows the testimony of the 40 witnesses.

• OSTI ID: 5299080
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
CONSUMER PROTECTION
DOCUMENT TYPES
ECONOMIC IMPACT
ENERGY SOURCES
ENERGY SUPPLIES
FOSSIL FUELS
FUELS
GASOLINE
HEARINGS
INSTITUTIONAL FACTORS
LIQUID FUELS
MARKET
PETROLEUM
PETROLEUM PRODUCTS
POLITICAL ASPECTS
PRICES
TRADE