Managing oil disruptions: issues and policy options. [Monograph]

Book · Thu Jan 01 04:00:00 EST 1981

OSTI ID:5556661

Webre, P

The Congressional Budget Office (CBO) prepared the analysis of policy options to help Congress decide whether to extend or expand the Emergency Petroleum Allocation Act of 1973, or whether to let it lapse on September 30, 1981. The central theme is that large disruptions of imported oil can deal the economy a severe blow that reduces output and increases unemployment and inflation. Alternative policies might allow this blow to be offset in different ways, but they cannot eliminate an impact. Some policies better contain the inflationary effects of a disruption, but are less effective in mitigating losses in aggregate production and higher unemployment. For others, the converse is true. Further, the appropriateness of each policy varies with the size and anticipated duration of the import disruption. Congress may wish to consider a portfolio of standby policies as well as the selection of just one. Two appendices offer further policy analyses. 10 references, 3 tables.

• OSTI ID: 5556661
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
COST BENEFIT ANALYSIS
EMERGENCY PETROLEUM ALLOCATION ACT
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
LAWS
MANAGEMENT
PETROLEUM
SUPPLY DISRUPTION