Summary and evaluation of the entitlements program

Technical Report · Fri Feb 18 04:00:00 EST 1977

OSTI ID:7287927

The entitlements program was enacted to alleviate the existence of many levels of crude oil prices that resulted from the domestic pricing controls. The object of this program is to equalize the cost of crude among refiners. Exchanges of funds take place when refiners with larger than the national average of cheaper old oil are required to purchase entitlements from those firms with less than the average ratio of the cheaper crude. The FEA calculates monthly the ratio of domestic old oil and new oil, the entitlement price, and the required purchases or sales depending on the refiners net entitlement position. As was shown, the actual computation involves many other variables such as: import levels, stripper well oil, the small refiner bias, etc.

• Research Organization: New England Regional Commission, Boston, Mass. (USA)
• OSTI ID: 7287927
• Report Number(s): NP-21982
• 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
CALCULATION METHODS
CHARGES
COST
ENERGY SOURCES
ENTITLEMENTS PROGRAM
EVALUATION
FOSSIL FUELS
FUELS
NATIONAL ORGANIZATIONS
PETROLEUM
PETROLEUM PRODUCTS
PETROLEUM REFINERIES
US FEA
US ORGANIZATIONS