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Prospects for the World Oil Market

S. Fred Singer

Year: 1985
Volume: Volume 6
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-3
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Abstract:
This essay recapitulates a recent review article on world oil pricing.It also summarizes my own thinking and writing about oil problems over the last decade.In brief, I maintain that the first price jump (of 1973-1974), from about $3 to $12 per barrel, represents the "correct" adjustment from the point of view of the "core" producing countries (Saudi Arabia, Kuwait, and the United Arabs Emirates), whose objective it should be to maximize profits over time. (I agree with Erickson and other analysts that Saudi Arabia, Kuwait, and the UAE are the swing producers that set the price.)



A Critical Analysis of the DOE Report

S. Fred Singer

Year: 1988
Volume: Volume 9
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No2-2
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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.



VIF Vivit: Reply to Henderson

S. Fred Singer

Year: 1989
Volume: Volume 10
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No4-11
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Abstract:
Henderson's main conclusions are incorrect. Oil is a fungible substance, and therefore price discrimination is not possible. (Some argue, however, that there is evidence the world oil market is segmented, and that a degree of price discrimination therefore is possible; Weiner, 1984). Consequently, a variable import fee (VIF) imposed on imported oil will shield the US economy from short-lived price collapses, as intended - and at the same time garner modest revenues for the Treasury.





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