Performance of government in energy regulations. [Brief review]
Conference
·
· Am. Econ. Rev.; (United States)
OSTI ID:5690860
The specific standard of optimum resource conservation is used to evaluate the government's performance in energy regulation in anticipation of new government proposals for a National Energy Plan. Five major areas of government intervention into the energy sector over the past fifty years are examined: percentage depletion allowance tax treatment for oil and gas production, the lsting of intangible drilling costs as expenses, prorationing rules for depth-acreage and well-spacing, import quotas, and price controls on natural gas. The impact of these policies is judged to be counterproductive in terms of resource conservation because of the economics and political pressures of our system of government, the acceptance of the market failure concept, the compromising nature of the legislative process, the breakdown in the administration of legislation, and the fact that the net costs of the correction exceed the cost of the externality. 12 references.
- Research Organization:
- Univ. of California, Santa Barbara
- OSTI ID:
- 5690860
- Conference Information:
- Journal Name: Am. Econ. Rev.; (United States) Journal Volume: 69:2
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290400 -- Energy Planning & Policy-- Energy Resources
291000 -- Energy Planning & Policy-- Conservation
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
ECONOMIC IMPACT
ENERGY POLICY
FINANCIAL INCENTIVES
GOVERNMENT POLICIES
MARKET
OPTIMIZATION
REGULATIONS
RESOURCE CONSERVATION
RESOURCE DEVELOPMENT
TAXES
290400 -- Energy Planning & Policy-- Energy Resources
291000 -- Energy Planning & Policy-- Conservation
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
ECONOMIC IMPACT
ENERGY POLICY
FINANCIAL INCENTIVES
GOVERNMENT POLICIES
MARKET
OPTIMIZATION
REGULATIONS
RESOURCE CONSERVATION
RESOURCE DEVELOPMENT
TAXES