Oil gluts and oil tariffs

Book · Fri Jan 01 00:00:00 EST 1982

OSTI ID:5682691

Hogan, W W

The free market does not provide the level of oil imports that is in the best interest of oil-importing nations. Common sense tells us that the best time to combat the economic power of a cartel is when it is weak, such as during a period of oil glut. The glut conditions still leave us with a large gap between the true cost of oil and the market price. The authors could justify an oil import tariff of 30-40% of the price of oil, or more. Nearly every other consideration, especially the positive effect on the federal budget, reinforces the recommendation for a large import tariff. An analysis in the appendix showing the otpimal tariff at 65-100% suggests that we should impose the largest tariff we can get through the political system. 9 references, 10 tables.

• OSTI ID: 5682691
• Resource Relation: Related Information: Discussion Paper Series H-82-04
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
29 ENERGY PLANNING
POLICY AND ECONOMY
OIL-IMPORTING COUNTRIES
TARIFFS
PETROLEUM
IMPORTS
CARTELS
ECONOMIC POLICY
MARKET
POLITICAL ASPECTS
ENERGY SOURCES
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
INSTITUTIONAL FACTORS
020700* - Petroleum- Economics
Industrial
& Business Aspects
294002 - Energy Planning & Policy- Petroleum