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

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: Q41: Energy: Demand and Supply; Prices, Q40: Energy: General, Q37: Nonrenewable Resources and Conservation: Issues in International Trade, Q38: Nonrenewable Resources and Conservation: 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 bi-monthly journal of the IAEE's Energy Economics Education Foundation.


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