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- W187284431 abstract "OPEC prices historically follow rather than lead market activity, but the path of price changes has been uneven. This suggests that a closer look should be taken at the 1979 to 1980 response to oil surpluses to understand how the present low level of inventories increases vulnerability and how much of the price decline reflects substantial progress in conservation. A wedge between consumer prices and prices paid to OPEC is available in the form of an oil-import tax to maintain price levels and encourage further conservation. It is important to maintain a viable petroleum industry in the Persian Gulf, which can be helped with diversification into new oil fields and oil substitutes. A World War II-type rationing system could be revised to meet current driving needs in the event of another supply crisis, but the major effort should be to keep the Persian Gulf fields producing. Except for Kuwait, OPEC countries are not buying major US companies with their surplus dollars and form no serious threat unless they put pressure on the supplies of goods and services. (DCK)" @default.
- W187284431 created "2016-06-24" @default.
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- W187284431 date "1982-07-12" @default.
- W187284431 modified "2023-09-24" @default.
- W187284431 title "Oil, petrodollars, and the US economy. [Monograph]" @default.
- W187284431 hasPublicationYear "1982" @default.
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