VIF Vivit: Reply to Henderson

S. Fred Singer

The Energy Journal, 1989, vol. 10, issue 4, 171-173

Abstract: Henderson's main conclusions are incorrect. Oil is a fungible substance, and therefore price discrimination is not possible. (Some argue, however, that there is evidence the world oil market is segmented, and that a degree of price discrimination therefore is possible; Weiner, 1984). Consequently, a variable import fee (VIF) imposed on imported oil will shield the US economy from short-lived price collapses, as intended - and at the same time garner modest revenues for the Treasury.

Keywords: Variable oil import fee; US; Oil supply; Energy policy (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:10:y:1989:i:4:p:171-173

DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No4-11

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