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Slaking Our Thirst for Oil
Ian Parry and Joel Darmstadter
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Mr. President, in response to the dependency of the U.S. economy on a volatile and uncertain world oil market, we urge that you support phasing in a modest tax on all oil consumption. |
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Ian Parry on
taxing oil consumption
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The oil tax would encourage energy conservation measures throughout the economy, promote R&D on alternative fuels, and help gradually reduce our vulnerability to price volatility over the long term. Its proceeds could permit income tax reductions and a paring down of our national debt. |
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In addition, we believe that you should plan to expand the Strategic Petroleum Reserve (SPR) and actively draw it down in the event of severe and prolonged oil supply disruptions.
These two measures are more appropriate for reducing the nation’s vulnerability to oil price shocks than are policy interventions to expand domestic oil production. |
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Download this Policy Recommendation
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Joel Darmstadter studies energy resources and policy, particularly in their relation to economic development. His professional activities have included congressional testimony and participation in National Academy of Sciences studies.
Chapter 5. Stimulating Renewable Energy: A "Green Power" Initiative
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Ian Parry specializes in environmental, transportation, energy, and tax policies. His recent work has analyzed gasoline taxes, fuel economy standards, mass transit subsidies, alcohol taxes, policies to reduce traffic congestion and accidents, environmental tax shifts, the role of technology policy in environmental protection, and the distributional impacts of pollution control.
Chapter 9. Pay-As-You-Drive for Car Insurance
Chapter 11. Pay as You Slow: Road Pricing to Reduce Traffic Congestion
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All Policy Recommendations in New Approaches on Energy and the Environment are available for complimentary download from each chapter's webpage. (Copyright © 2004 by Resources for the Future.) Use of these chapters is for personal use only. Contents may not be duplicated or retransmitted by print, electronic, or other means without written permission of the publisher. To purchase a printed copy of the book, click on the button below.
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