US energy-policy consensus nearer

Journal Article · Mon Dec 08 04:00:00 EST 1980 · Oil Gas J.; (United States)

OSTI ID:5383649

Lewis, W W

According to W.W. Lewis, a member of the outgoing Carter Administration's US Department of Energy (DOE) and author of DOE's report ''Reducing US Oil Vulnerability: Energy Policy for the 1980's'', the US should institute several reforms of its energy policy, including faster decontrol of natural gas, reform of the Windfall Profits Tax, easier offshore oil and gas leasing, and faster leasing and permitting for oil-shale development. Oil imports by 1990 will account for 15% of US energy, rather than 20% as in 1979. Gas decontrol by 1982 would save 430,000 bbl/day of imported oil by 1985 and 440,000 bbl/day by 1990. Newly discovered oil and incremental tertiary production should be exempted from the Windfall Profits Tax, actions that could reduce oil imports by 60,000 bbl/day by 1985 and 220,000 bbl/day by 1990. An increase in the availability of information about potential Outer Continental Shelf oil and gas resources, an increase in the acreage offered for leasing under current programs, and the streamlining of the permitting process could reduce oil imports by 220,000 bbl/day in 1985 and 400,000 bbl/day in 1990. The Strategic Petroleum Reserve should be filled unless suppliers reduce production in response.

• OSTI ID: 5383649
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 78:49; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
294000 -- Energy Planning & Policy-- Fossil Fuels
ADMINISTRATIVE PROCEDURES
AMENDMENTS
BITUMINOUS MATERIALS
CARBONACEOUS MATERIALS
DEREGULATION
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
IMPORTS
INDUSTRY
LEASES
MATERIALS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NATURAL GAS INDUSTRY
NORTH AMERICA
OFFSHORE OPERATIONS
OIL SHALES
PERMITS
PETROLEUM
PETROLEUM DEPOSITS
RESERVES
RESOURCE DEVELOPMENT
RESOURCES
STRATEGIC PETROLEUM RESERVE
TAXES
USA
WINDFALL PROFITS TAX