Evaluating US oil security and import reliance

被引:24
作者
Brown, Stephen P. A. [1 ,2 ]
Huntington, Hillard G. [3 ]
机构
[1] Univ Nevada, Las Vegas, NV 89154 USA
[2] Resources Future Inc, Washington, DC 20036 USA
[3] Stanford Univ, Dept Management Sci & Engn, Stanford, CA 94305 USA
关键词
Oil markets; Energy security; Oil prices and economic activity; PRICE SHOCKS; ENERGY SECURITY; SOCIAL COST; MACROECONOMY; ECONOMICS; EMISSIONS;
D O I
10.1016/j.enpol.2015.01.001
中图分类号
F [经济];
学科分类号
02 ;
摘要
We examine the literature that considers the consequences of U.S. reliance on imported oil. We take an approach that covers many ideas about the costs arising from U.S. reliance on imported oil, and we identify which of those ideas have broad support in the economics literature and which ideas have only limited support. We also quantify the costs of U.S. reliance on imported oil using two approaches. One is fairly narrow, conforms to the economics view of externalities, and yields small cost estimates. The other is relatively expansive, is favored by some policy analysts, and yields much larger cost estimates. We estimate these costs as expected U.S. economic losses over a time horizon from 2010 through 2035, while taking into account world oil market conditions, market power, probable oil supply disruptions, and the oil-market response to those supply disruptions. (C) 2015 Elsevier Ltd. All rights reserved.
引用
收藏
页码:9 / 22
页数:14
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