Estimate of the 1979 cost of oil imports into the United States. Analysis report

Technical Report · Sun Jul 01 04:00:00 EDT 1979

OSTI ID:6119263

This Analysis Report estimates the cost of imports into the 50 States, Puerto Rico and the Virgin Islands during the remainder of 1979 based on two different assumptions concerning U.S. demand and imports and world oil prices. The low demand estimate is based on low foreign supply and consequent high world oil prices, while the high demand is based upon high foreign supply and low prices. This analysis assumes that demand is not constrained by shortages of available imports of crude oil and may overestimate consumption and imports somewhat if actual shortages occur. The Census estimate of imports averaged 9.21 million barrels a day for the first quarter, at a free alongside ship cost of $11.58 billion. In the low demand projection series, using high world prices which dampen U.S. demand and imports of petroleum, total imports on a balance of payments basis would average 8.96 million barrels a day for the full year 1979 at a cost of $60.16 billion. In the high demand series, which incorporates a low world price, demand is higher and imports would average 9.91 million barrels a day. However, the annual cost would be less than in the low demand case, or $53.24 billion, with lower prices offsetting higher import volume.

• Research Organization: Department of Energy, Washington, DC (USA). Energy Information Administration
• OSTI ID: 6119263
• Report Number(s): DOE/EIA-0184/6
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
COST
DEMAND FACTORS
ENERGY SOURCES
FOSSIL FUELS
FUELS
IMPORTS
NORTH AMERICA
PETROLEUM
PUERTO RICO
USA
VIRGIN ISLANDS
WEST INDIES