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The Social Cost of Imported Oil

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  • Elena Folkerts-Landau

Abstract

Structural adjustments in the economy and an increase in uncertainty about future oil prices followed the two oil price shocks of the 1970s and suggested that continued dependence on imported oil was costly. It was argued that private decisions to consume imported oil did not appropriately take into account the country's vulnerability to oil exporters. Accordingly, a literature developed around the idea that the market price of imported oil does not reflect the full social cost.

Suggested Citation

  • Elena Folkerts-Landau, 1984. "The Social Cost of Imported Oil," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 41-58.
    • Handle: RePEc:aen:journl:1984v05-03-a04
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    Cited by:

    1. Huntington, Hillard G., 2003. "Energy disruptions, interfirm price effects and the aggregate economy," Energy Economics, Elsevier, vol. 25(2), pages 119-136, March.
    2. Lawrence H. Goulder & Marc S. Robinson, 1985. "Synfuels Production, Exhaustible Resources and Monopsony Power," UCLA Economics Working Papers 378, UCLA Department of Economics.

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    JEL classification:

    • F0 - International Economics - - General

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