Issues surrounding an oil import premium

Charles E. Phelps, Frank Camm, Fred Hoffman

Expert InsightsPublished 1983

This is a conceptual paper on issues surrounding implementation of an "import premium" for imported petroleum. An import premium is the difference between the private marginal cost of petroleum imports and the social marginal cost. It can be implemented as a tariff on oil, a quota on imports, or as subsidies to alternative fuel sources produced domestically. This paper identifies some of the issues which need to be solved in in order to find the appropriate level of the import premium.

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Phelps, Charles E., Frank Camm, and Fred Hoffman, Issues surrounding an oil import premium. Santa Monica, CA: RAND Corporation, 1983. https://www.rand.org/pubs/papers/P6903.html.
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