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Methods for Measuring the Oil Import Reduction Premium and the Oil Stockpile Premium

Abstract:
Energy problems can be differentiated into the following three broad categories:1. Oil supply disruptions. These can cause both large short-term price increases and huge short-term economic losses. Some of the price increase impacts may persist after the disruption is over. Energy policies to address this problem, such as oil stockpiles, must have impacts beginning in a zero- to five-year time frame.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Energy Security and Geopolitics – Energy Security

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
Q48 - Energy: Government Policy

Keywords: Oil shocks, Oil imports, Stockpiling, US, OPEC

DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No1-1


Published in Volume 2, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.