The Potential Impact on Socio-Economic Groups of Rising Energy Prices Due to the Kuwaiti Crisis

Conference · Fri Oct 12 04:00:00 EDT 1990

OSTI ID:6127488

Henderson, L. ^[1]; Poyer, D. ^[2]; Teotia, A. ^[2]

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1. Univ. of Balitmore, MD (United States)
2. Argonne National Laboratory (ANL), Argonne, IL (United States)

The Iraqi invasion of the kingdom of Kuwait on August 2, 1990, triggered immediate increases in the world price of petroleum. With US imports of petroleum and residential, commercial, and industrial consumption of petroleum products on the rise, these price increases are already evident in the US. The differential impact of these increases on poor and minority households raises significant and potentially long-term research and policy issues for various government agencies, including the US Department of Energy. The purpose of this paper is to provide a preliminary analysis of the nature and extent of the potential impact of Iraqi-induced petroleum price changes on majority, black, and Hispanic households, as well as on poor and non-poor households. As this paper is written, the US is continuing the deployment of several hundred thousand troops, aircraft, naval vessels, and other equipment to the Persian Gulf. The objectives of this deployment are to deter Iraqi invasion of Saudi Arabia and to encourage Iraqi withdrawal from Kuwait. The outcome of these initiatives, particularly the response of the government of Iraq, could stimulate additional changes in world petroleum prices and subsequent impacts on the household energy consumption and expenditure patterns of US black, Hispanic, and poor households.

• Research Organization: Argonne National Laboratory (ANL), Argonne, IL (United States)
• Sponsoring Organization: USDOE
• DOE Contract Number: W-31109-ENG-38
• OSTI ID: 6127488
• Report Number(s): ANL/CP--72632; CONF-9010340--1; ON: DE91010600
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
97 MATHEMATICS AND COMPUTING
99 GENERAL AND MISCELLANEOUS
990200 -- Mathematics & Computers
BLACK AMERICANS
COMPUTERIZED SIMULATION
ECONOMIC IMPACT
ENERGY CONSUMPTION
ENERGY SOURCES
FORECASTING
FOSSIL FUELS
FUEL CONSUMPTION
FUELS
HIGH INCOME GROUPS
HISPANIC AMERICANS
HUMAN POPULATIONS
IMPORTS
INSTITUTIONAL FACTORS
LOW INCOME GROUPS
MINORITY GROUPS
PETROLEUM
POPULATIONS
PRICES
RETAIL PRICES
SIMULATION
SOCIO-ECONOMIC FACTORS
SUPPLY AND DEMAND