International oil policy

Book · Mon Jan 01 04:00:00 EST 1979

OSTI ID:6940040

Safer, A E

Dr. Safer feels that the US government has paralyzed itself by promoting the idea of an impending world scarcity of oil and failing to take the steps that might weaken some of the OPEC price-setting power. Among the alternatives to accepting an OPEC monopoly are the simultaneous removal of price controls in US markets and subsidies for foreign oil purchases, setting and control of an import quota, encouragement of exploration in non-OPEC developing nations, and setting of a visible pricing system for oil products. Although the US will have to import large quantities of oil for many years to come, Dr. Safer says we can learn to buy it better. To the extent that the prices of other energy sources are related to international oil prices, responding to the oil monopoly directly would benefit all energy users. The world's economies would improve because we would all have more to spend on non-oil goods and services and this would expand employment, production, and world trade. 80 references, 14 figures, 21 tables.

• OSTI ID: 6940040
• Country of Publication: United States
• Language: English

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