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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. 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.
    2. 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.
    3. 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.
    4. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, October.
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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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