Assessing the impact of an oil import fee
We examine the impact of an oil-import fee on the United States economy. For a general equilibrium model, we estimate the effect that a $5.00 per barrel import fee would have on producing sectors, consuming sectors, households, and the government. Over the period 1984–1990 with such an import fee (as compared to the absence of a crude oil import fee), the results suggest that there will be a reduction in output by all producing sectors (except the crude oil industry) by about $8.6 billion, there will be a fall in the consumption of goods and services by about $318 million and there will be a decline in aggregate social welfare (measured as utility) by about $208 million. The government will realize an increase in revenue of about $3.41 billion.
Year of publication: |
1989
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Authors: | Boyd, Roy ; Uri, Noel D. |
Published in: |
Energy. - Elsevier, ISSN 0360-5442. - Vol. 14.1989, 1, p. 29-44
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Publisher: |
Elsevier |
Saved in:
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