Impact of President Reagan's sudden decontrol of petroleum prices on petroleum consumption

Journal Article · Wed Jul 01 04:00:00 EDT 1981 · Energy J.; (United States)

DOI:https://doi.org/10.5547/ISSN0195-6574-EJ-Vol2-No3-9· OSTI ID:6259463

Reza, A M

Relatively simple econometric demand models are constructed for total petroleum, gasoline, and home heating oil to measure the impact of President Reagan's sudden price decontrol. Two sets of prices are forecast: what prices would have been under Carter's gradual decontrol plan, and what they are likely to be without controls. The results show that Reagan's approach will reduce 1981 petroleum consumption about 135 million barrels, with most of the reduction during the first half of the year. The drop in oil imports is equal to a $5.4 billion reduction in the US oil import bill. 7 references, 1 table.

• Research Organization: Gulf Oil Corp., Pittsburgh, PA
• OSTI ID: 6259463
• Journal Information: Energy J.; (United States), Journal Name: Energy J.; (United States) Vol. 2:3; ISSN ENJOD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
DEMAND FACTORS
DEREGULATION
ECONOMETRICS
ECONOMIC IMPACT
ECONOMICS
ENERGY CONSUMPTION
ENERGY SOURCES
FORECASTING
FOSSIL FUELS
FUEL CONSUMPTION
FUELS
PETROLEUM
PRICES