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Assessing the impact of an oil import fee

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  • Boyd, Roy
  • Uri, Noel D.

Abstract

We examine the impact of an oil-import fee on the United States economy. For a general equilibrium model, we estimate the effect that a $5.00 per barrel import fee would have on producing sectors, consuming sectors, households, and the government. Over the period 1984–1990 with such an import fee (as compared to the absence of a crude oil import fee), the results suggest that there will be a reduction in output by all producing sectors (except the crude oil industry) by about $8.6 billion, there will be a fall in the consumption of goods and services by about $318 million and there will be a decline in aggregate social welfare (measured as utility) by about $208 million. The government will realize an increase in revenue of about $3.41 billion.

Suggested Citation

  • Boyd, Roy & Uri, Noel D., 1989. "Assessing the impact of an oil import fee," Energy, Elsevier, vol. 14(1), pages 29-44.
    • Handle: RePEc:eee:energy:v:14:y:1989:i:1:p:29-44
    DOI: 10.1016/0360-5442(89)90121-7
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    References listed on IDEAS

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    1. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
    2. Boyd, Roy, 1988. "An economic model of direct and indirect effects of tax reform on agriculture," Technical Bulletins 312290, United States Department of Agriculture, Economic Research Service.
    3. Ballard, Charles L. & Fullerton, Don & Shoven, John B. & Whalley, John, 2009. "A General Equilibrium Model for Tax Policy Evaluation," National Bureau of Economic Research Books, University of Chicago Press, number 9780226036335, December.
    4. Charles L. Ballard & Don Fullerton & John B. Shoven & John Whalley, 1985. "Introduction to "A General Equilibrium Model for Tax Policy Evaluation"," NBER Chapters, in: A General Equilibrium Model for Tax Policy Evaluation, pages 1-5, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Vaona, Andrea, 2016. "The effect of renewable energy generation on import demand," Renewable Energy, Elsevier, vol. 86(C), pages 354-359.

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