Oil Supply Shocks, US Gross Domestic Product, and the Oil Security Premium

This report examines estimates of and approaches to quantifying the costs of US dependence on oil, finding that the oil security premium is likely lower than reported in the existing literature.

Report by Alan Krupnick, Richard D. Morgenstern, Nathan Balke, Stephen P. A. Brown, Ana Herrera, and Shashank Mohan — Nov. 30, 2017