THE ECONOMIC COST OF U.S. OIL CONSERVATION

Stephen Brown and Hillard Huntington

Contemporary Economic Policy, 1994, vol. 12, issue 3, 42-53

Abstract: This article examines the costs of U.S. oil conservation by using parameters of five world oil models from a recent Energy Modeling Forum study. Variation in the estimated cost of oil conservation across the models suggests that achieving oil conservation through flexible policies that adjust to market conditions would better serve economic efficiency than would setting government‐mandated levels of oil consumption. Additionally, net world oil conservation is likely to be somewhat less than gross U.S. conservation. U.S. oil conservation lowers the world oil price and stimulates non‐U.S. oil consumption. Including the gains in non‐U.S. oil consumption raises the estimated costs of achieving a given conservation level.

Date: 1994
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://doi.org/10.1111/j.1465-7287.1994.tb00433.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:coecpo:v:12:y:1994:i:3:p:42-53

Ordering information: This journal article can be ordered from
https://ordering.onl ... 5-7287&ref=1465-7287

Access Statistics for this article

Contemporary Economic Policy is currently edited by Brad R. Humphreys

More articles in Contemporary Economic Policy from Western Economic Association International Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().