When the oil spigot is suddenly turned off

Journal Article · · J. Policy Anal. Manage.; (United States)

DOI:https://doi.org/10.2307/3324783· OSTI ID:6672404

Verleger, Jr, P K

A number of political events could quickly reverse the current forecasts of a continuing oil glut. A review of proposals to deal with such an event suggests ten policy recommendations: (1) an immediate price increase; (2) a tariff on imports; (3) a graduated tariff during the shortage; (4) a mechanism to recycle tariff receipts; (5) avoiding refiner or consumer taxes; (6) encouraging private stockpiles; (7) making easy access to government-owned stockpiles; (8) avoiding debate over emergency plans; (9) avoiding price controls and allocations; and (10) avoid coordination through the International Energy Act (IEA). The author notes in (10) that IEA, as an international consultative body, cannot move quickly; also, reliance on IEA will encourage consuming countries from immediate unilateral action. 4 references. (DCK)

• Research Organization: Booz, Allen and Hamilton, Inc., Washington, DC
• OSTI ID: 6672404
• Journal Information: J. Policy Anal. Manage.; (United States), Journal Name: J. Policy Anal. Manage.; (United States) Vol. 1:4; ISSN JPAMD
• 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
ENERGY POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
PETROLEUM
PLANNING
RECOMMENDATIONS
SUPPLY DISRUPTION