Low oil prices and rising oil imports have caused growing concern about U.S. vulnerability to oil-supply shocks. Mine K. Yucel and Carol Dahl devise a measure of vulnerability and use it to compare three policies that have been proposed to reduce U.S. vulnerability to oil-supply disruptions: a...

Changes in energy prices have had sizable but differing effects on economic activity across the United States. The composition of each state's economy largely determines how its employment responds to changes in energy prices. In this article, Stephen Brown and Mine Yucel use simulations based...

The Houston economy went from boom to bust to recovery during the 1980s. Expectations of oil prices at $50 per barrel and higher in the late 70s and early 80s stimulated hundreds of oil-related projects in the area. An oil-price decline, however, led the Houston economy into a sharp recession...

Considerable research finds oil price shocks have had major effects on U.S. output and inflation. Several recent studies argue that the response of monetary policy-rather than the oil price shocks themselves-caused the fluctuations in economic activity. Stephen Brown and Mine Yucel show that an...

In this article, Stephen Brown and Hillard Huntington combine recent studies of world oil markets and the nascent literature on damage estimates from carbon dioxide (CO2) emissions to derive cost and benefit curves for the reduction of these emissions through cooperative programs of oil...

Methanol, because of its low pollution characteristics, is a possible alternative to gasoline as a motor fuel. In this article, Mine K. Yucel calculates the economic, pollution, and health effects of switching from gasoline to methanol fuels. ; Yucel finds that use of methanol would lower oil...

Gasoline is the petroleum product whose price is most visible and, therefore, always under public scrutiny. Many claim there is an asymmetric relationship between gasoline and oil prices - specifically, gasoline price changes follow oil price changes more quickly when oil prices are rising than...