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The IEA Oil-Sharing Plan: Who Shares with Whom?

Abstract:
The United States and twenty other countries are all members of the International Energy Agency (TEA). The members' have an agreement which requires' them to share their oil with each other if the oil supplies to the members fall substantially. Both the formula for allocating oil among members and the size of the reduction in oil supplies that triggers the sharing formula are predetermined.

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Energy Specializations: Petroleum – Policy and Regulation; Energy Security and Geopolitics – International Energy Organizations

JEL Codes:
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
O19 - International Linkages to Development; Role of International Organizations

Keywords: IEA, Oil sharing, Oil supply, Oil imports

DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No4-3


Published in Volume 8, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.