Crude Oil Imports and National Security

28 Pages Posted: 28 Oct 2011

See all articles by Edward Hirs

Edward Hirs

University of Houston - Department of Economics; Yale Graduates Energy Study Group

Robert M. Ames

Yale Graduates Energy Study Group

Anthony Corridore

Yale Graduates Energy Study Group

Paul W. MacAvoy

Yale School of Management (Deceased); Yale University, Yale Graduates Energy Study Group (Deceased)

Date Written: October 26, 2011

Abstract

The authors demonstrate that the United States profits handsomely in all circumstances by imposing an embargo on imports of foreign crude oil. The US removes its exposure to foreign oil supply shocks and recovers deadweight lost producers surplus. The embargo plan will lead to greater domestic production of crude oil and alternative fuels without the tax and subsidy schemes heretofore employed.

Suggested Citation

Hirs, Edward and Ames, Robert M. and Corridore, Anthony and MacAvoy, Paul W., Crude Oil Imports and National Security (October 26, 2011). USAEE Working Paper No. 11-088, Available at SSRN: https://ssrn.com/abstract=1949966 or http://dx.doi.org/10.2139/ssrn.1949966

Edward Hirs (Contact Author)

University of Houston - Department of Economics ( email )

Houston, TX 77204-5882
United States
713-961-9661 (Phone)

Yale Graduates Energy Study Group

New Haven, CT 06520
United States

Robert M. Ames

Yale Graduates Energy Study Group ( email )

New Haven, CT 06520
United States

Anthony Corridore

Yale Graduates Energy Study Group

New Haven, CT 06520
United States

Paul W. MacAvoy

Yale School of Management (Deceased)

Yale University, Yale Graduates Energy Study Group (Deceased)

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