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A Critical Analysis of the DOE Report

Abstract:
The DOE Report, Energy Security, responds to White House con-cern about the decline of domestic oil production and the rise of oil imports. The Report (1987) has three purposes: to present data; to make projections; and to analyze policy alternatives. It is intended to provide a basis for making rational policy choices, but it does not make specific recommendations.My analysis here is intended as a critique of the report so that policy decision making can be improved. My analysis deals mainly with the oil sector; the report itself is more comprehensive. I provide specific recommendations relating mainly to producer and consumer tax policy, import fees, and the Strategic Petroleum Reserve (SPR) although the report covers a wider range of topics, including federal leasing policy.

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Energy Specializations: Energy Security and Geopolitics – Geopolitics of Energy; Energy and the Economy – Energy as a Productive Input; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance; Energy and the Economy – Energy Shocks and Business Cycles

JEL Codes:
Q48 - Energy: Government Policy
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q34 - Natural Resources and Domestic and International Conflicts
F44 - International Business Cycles

Keywords: Energy security, US, Oil imports, Energy policy, SPR, oil leasing policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No2-2


Published in Volume 9, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.