World oil supply disruptions lead to U.S. economic losses. Because oil is fungible in an integrated world oil market, increased oil consumption, whether from domestic or imported sources, increases the economic losses associated with oil supply disruptions. Nevertheless, increased U.S. oil...

To the casual observer, proposals to increase the Corporate Average Fuel Economy (CAFE) standards on vehicles may seem to be a good idea. However, according to the data presented in this article, tighter CAFE standards would save very little gasoline, increase car buyers' costs and lower their...