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- W1603155346 abstract "The impacts of current price controls on domestic crude oil on both the allocation of society's scarce resources and on the distribution of income among consumers and producers are measured against standards of efficiency and equity. The study concludes that petroleum price controls cause an inefficient use of resources, primarily because of underproduction of domestic crude oil and overconsumption of foreign crude oil, induced by artificially low prices. Not all groups, however, would benefit from decontrol: domestic producers would gain, while domestic refiners and, to a lesser extent, consumers would lose. With or without a windfall profits tax, decontrol is preferable to continued price regulation." @default.
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- W1603155346 date "1979-01-01" @default.
- W1603155346 modified "2023-09-23" @default.
- W1603155346 title "Petroleum price regulation: should we decontrol. [Monograph]" @default.
- W1603155346 hasPublicationYear "1979" @default.
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