Economic impacts of a transition to higher oil prices
Economic impacts of sharply higher oil and gas prices in the eighties are estimated using a combination of optimization and input-output models. A 1985 Base Case is compared with a High Case in which crude oil and crude natural gas are, respectively, 2.1 and 1.4 times as expensive as in the Base Case. Impacts examined include delivered energy prices and demands, resource consumption, emission levels and costs, aggregate and compositional changes in gross national product, balance of payments, output, employment, and sectoral prices. Methodology is developed for linking models in both quantity and price space for energy service--specific fuel demands. A set of energy demand elasticities is derived which is consistent between alternative 1985 cases and between the 1985 cases and an historical year (1967). A framework and methodology are also presented for allocating portions of the DOE Conservation budget according to broad policy objectives and allocation rules.
- Research Organization:
- Brookhaven National Lab., Upton, NY (USA)
- Sponsoring Organization:
- USDOE
- DOE Contract Number:
- EY-76-C-02-0016
- OSTI ID:
- 6275501
- Report Number(s):
- BNL--50871
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
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294002* -- Energy Planning & Policy-- Petroleum
ALLOCATIONS
BUDGETS
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ECONOMIC ANALYSIS
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ECONOMIC IMPACT
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EMPLOYMENT
ENERGY DEMAND
ENERGY MODELS
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INPUT-OUTPUT ANALYSIS
NATIONAL ORGANIZATIONS
NATURAL GAS
OPTIMIZATION
PETROLEUM
US DOE
US ORGANIZATIONS