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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: Q41: Energy: Demand and Supply; Prices, Q40: Energy: General, Q35: Hydrocarbon Resources, Q37: Nonrenewable Resources and Conservation: Issues in International Trade

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.