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On Capturing Oil Rents with a National Excise Tax

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Author Info
Ted Bergstrom (University of California, Santa Barbara)

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Abstract

This paper argues that since the supply of oil in the ground is inelastic, the incidence of a sales tax on oil, maintained forever at a fixed rate, would fall entirely on the oil-suppliers. In the world economy, however, the elasticity of supply of oil to a single country depends on that country’s imports as a share of world output and on the elasticity of demand for that country. The paper calculates optimal tax rates for a country as a function of these variables and estimates optimal oil tax rates for the U.S., for some OECD countries separately, and for the U.S. plus the OECD collectively. Current U.S. tax rates are shown to be far below optimal values.

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File URL: http://repositories.cdlib.org/cgi/viewcontent.cgi?article=1098&context=ucsbecon
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Publisher Info
Paper provided by Department of Economics, UC Santa Barbara in its series University of California at Santa Barbara, Economics Working Paper Series with number 1982A.

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Date of creation: 01 Mar 1982
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Handle: RePEc:cdl:ucsbec:1982a

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Keywords: energy economics; optimal taxation; oil; rents;

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  1. Santiago J. Rubio & María Dolores Alepuz, 2005. "Foreign Monopolies And Tariff Agreements Under Integrated Markets," Working Papers. Serie AD 2005-38, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  2. Julien Daubanes, 2009. "Taxation of Oil Products and GDP Dynamics of Oil-rich Countries," Economics working paper series 09/102, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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  3. DAUBANES Julien, 2007. "On the Optimal Taxation of an Exhaustible Resource under Monopolistic Extraction," Working Papers 07.09.230, LERNA, University of Toulouse. [Downloadable!]
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  4. Gjermund Nese & Odd Rune Staume, 2005. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  5. Santiago J. Rubio, 2004. "On Capturing Oil Rents with a National Excise Tax Revisited," Working Papers 2004.133, Fondazione Eni Enrico Mattei. [Downloadable!]
  6. Rabah Amir & Niels Nannerup, 2006. "Information Structure and the Tragedy of the Commons in Resource Extraction," Journal of Bioeconomics, Springer, vol. 8(2), pages 147-165, August. [Downloadable!] (restricted)
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  7. Julien Daubanes, 2008. "Optimal taxation of a monopolistic extractor: are subsidies necessary?," Economics working paper series 08/92, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  8. DAUBANES Julien & GRIMAUD André, 2006. "On the North-South Effects of Environmental Policy: Rent Transfers, Relocation and Growth," Working Papers 06.26.219, LERNA, University of Toulouse. [Downloadable!]
  9. Santiago J. Rubio & Luisa Escriche, 1998. "- Strategic Pigouvian Taxation, Stock Externalities And Polluting Non-Renewable Resources," Working Papers. Serie EC 1998-23, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
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  10. Gjermund Nese & Odd Straume, 2007. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," Experimental Economics, Springer, vol. 7(1), pages 31-52, March. [Downloadable!] (restricted)
  11. Jon Strand, 2008. "Importer and Producer Petroleum Taxation: A Geo-Political Model," IMF Working Papers 08/35, International Monetary Fund. [Downloadable!]
  12. DAUBANES Julien, 2009. "Changement climatique, instruments économiques et propositions pour un accord post-Kyoto : une synthèse," Working Papers 09.19.295, LERNA, University of Toulouse. [Downloadable!]
  13. Gervais Jean-Philippe & Harvey E. Lapan, 2002. "Endogenous Choice of Trade Instrument Under Uncertainty ," International Economic Journal, Korean International Economic Association, vol. 16(4), pages 75-96, December. [Downloadable!] (restricted)
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  14. BERLINSCHI Ruxanda & DAUBANES Julien, 2007. "Aid to Poor Resource Exporting Countries : Which Role Should be Played by Resource Taxation?," Working Papers 07.23.244, LERNA, University of Toulouse. [Downloadable!]
  15. DAUBANES Julien, 2007. "Fossil fuels supplied by oligopolies : On optimal taxation and rent capture," Working Papers 07.22.243, LERNA, University of Toulouse. [Downloadable!]
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  16. Jean-Philippe Gervais, 2001. "Production uncertainty and trade policy commitment," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 10(1), pages 1-21, March. [Downloadable!] (restricted)
  17. Santiago J. Rubio, 2005. "Tariff Agreements And Non-Renewable Resource International Monopolies: Prices Versus Quantitites," Working Papers. Serie AD 2005-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  18. Gjermund Nese & Odd Straume, 2007. "Industry Concentration and Strategic Trade Policy in Successive Oligopoly," Journal of Industry, Competition and Trade, Springer, vol. 7(1), pages 31-52, March. [Downloadable!] (restricted)
  19. Jörg Peters & Sascha Thielmann, 2008. "Promoting Biofuels: Implications for Developing Countries," Ruhr Economic Papers 0038, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen. [Downloadable!]
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