Facebook LinkedIn Twitter

IAEE Members and subscribers to The Energy Journal: Please log in to access the full text article or receive discounted pricing for this article.

Fuel Efficiency Incentives for Cars: Oil Import Vulnerability Reduction

U.S. oil imports have dropped from a peak of 8.9 mbd (million barrels per day) in 1977 (6.2 mbd from OPEC countries) to 5 mbd in 1982. Simultaneously, U. S. demand for oil has dropped from 18.4 mbd to 16 mbd, and our dependency on imports has dropped from 43 percent to 37 percent. Unfortunately, the costs of energy imports continued to climb, from $8 billion in 1973 to $44 billion in 1977 to $81 billion in 1981 (Department of Energy [DOE], 1982).

Purchase ( $25 )

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

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
Q55 - Environmental Economics: Technological Innovation

Keywords: Oil import dependency, US, Fuel efficiency incentives, Automobiles

DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No1-9

Published in Volume 5, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.