Oil import quota auctions

Journal Article · Thu Jan 01 04:00:00 EST 1976 · Challenge, the Magazine of Economic Affairs; (United States)

DOI:https://doi.org/10.1080/05775132.1976.11470169· OSTI ID:7353420

Adelman, M A

If the U.S. limited oil imports and auctioned quota tickets, it could disrupt the oil cartel and reduce imported crude oil prices. Control would be in the form of carefully watched inventories, with frequent auctions to keep inventories stable and import levels set high enough to avoid prices rising because of scarcity. If prices were stabilized, investors would be guaranteed a market for domestic energy, which could supplant imported oil as domestic supplies develop. An auction system would cause members of the cartel to work against each other rather than in collusion, and would give the U.S. an opportunity to deal with the lesser producers rather than Saudi Arabia. (DCK)

• Research Organization: Massachusetts Institute of Technology, Cambridge
• OSTI ID: 7353420
• Journal Information: Challenge, the Magazine of Economic Affairs; (United States), Journal Name: Challenge, the Magazine of Economic Affairs; (United States) Vol. 18:6
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
AGREEMENTS
CHARGES
ECONOMIC POLICY
ENERGY SOURCES
FOSSIL FUELS
FUELS
INTERNATIONAL AGREEMENTS
INVESTMENT
MARKET
PETROLEUM