Incidence and effects of the crude oil Windfall Profit Tax

Journal Article · Tue Mar 31 23:00:00 EST 1981 · Nat. Resour. J.; (United States)

OSTI ID:6132046

McDonald, S L

If it is true that domestically-produced oil is perfectly elastic at world prices and will not be affected by the Windfall Profits Tax, the burden will fall on oil operators and landowners instead of on domestic oil consumers. The result will be to increase the cost on landowners overtime and to decrease domestic production relative to imports. Resource allocations will also be distorted and tax revenues will accrue to state governments instead of the national treasury. Simple deregulation alone would have the desired effect of increasing production and reducing imports. 3 figures. (DCK)

• Research Organization: Univ. of Texas, Austin
• OSTI ID: 6132046
• Journal Information: Nat. Resour. J.; (United States), Journal Name: Nat. Resour. J.; (United States) Vol. 21:2; ISSN NRJOA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
DEMAND FACTORS
ECONOMIC ELASTICITY
ECONOMIC IMPACT
ENERGY SOURCES
FOSSIL FUELS
FUELS
PETROLEUM
PRODUCTIVITY
SUPPLY AND DEMAND
TAXES
WINDFALL PROFITS TAX