Oil Price Shocks, Market Response, and Contingency Planning

Horwich, George;Weimer, David Leo

ISBN 10: 084473554X / ISBN 13: 9780844735542

Published by AEI Press, 1984

About this Item

Seller Inventory # 840644

Bibliographic Details

• Title: Oil Price Shocks, Market Response, and Contingency Planning
• Publisher: AEI Press
• Publication Date: 1984
• Language: English
• ISBN 10: 084473554X
• ISBN 13: 9780844735542
• Binding: A Oversized Soft Cover.
• Condition: Good
• Signed: Signed by Author
• Book Type: Retired Professor Collection

About this title

Synopsis

This volume suggests strategies to ease the stress posed by disruptions in the oil supply. After describing the impact of such crises both in general terms and in particular instances in the 1970s, the book examines means of contending with future disruptions, including the role of the strategic petroleum reserve, financial assistance programs, demand restraint measures, monetary and fiscal policies, and international oil sharing.

Horwich and Weimer are highly critical of the petroleum regulations of the 1970s. They also find little merit in mandatory demand restraint measures or in proposals to reduce payroll taxes as an offset to energy costs. They argue that the sharing of oil supplies under the international agreements, carried out at world market prices, is unnecessary as well as potentially harmful to participating countries that are members of the International Energy Agency. The centerpiece of the strategy that the authors regard as optimal is early drawdown of the strategic petroleum reserve in combination with financial assistance and a loosening of monetary policy.