Petroleum products (11 - 20 of 43 items)
Energy Markets: Increasing Globalization of Petroleum Products Markets, Tightening Refining Demand and Supply Balance, and Other Trends Have Implications for U.S. Energy Supply, Prices, and Price Volatility
GAO-08-14: Published: Dec 20, 2007. Publicly Released: Jan 18, 2008.
To better understand how changes in domestic and international petroleum products markets have affected prices, GAO was asked to evaluate trends in (1) the international trade of petroleum products, (2) refining capacity and intensity of refining capacity use internationally and in the United States, (3) international and domestic crude oil and petroleum product inventories, and (4) domestic petro...
Crude Oil: Uncertainty about Future Oil Supply Makes It Important to Develop a Strategy for Addressing a Peak and Decline in Oil Production
GAO-07-283: Published: Feb 28, 2007. Publicly Released: Mar 29, 2007.
The U.S. economy depends heavily on oil, particularly in the transportation sector. World oil production has been running at near capacity to meet demand, pushing prices upward. Concerns about meeting increasing demand with finite resources have renewed interest in an old question: How long can the oil supply expand before reaching a maximum level of production--a peak--from which it can only decl...
Energy Security: Issues Related to Potential Reductions in Venezuelan Oil Production
GAO-06-668: Published: Jun 27, 2006. Publicly Released: Jun 27, 2006.
Venezuela is the world's eighth-largest oil exporter and among the top 10 countries in total proven oil reserves. Venezuela also supplies about 11 percent of current U.S. imports of crude oil and petroleum products and wholly owns five refineries in the U.S. Consequently, Venezuela is a key player in the future energy security of the United States and the world. The current global oil market is ti...
Energy Markets: Factors Contributing to Higher Gasoline Prices
GAO-06-412T: Published: Feb 1, 2006. Publicly Released: Feb 1, 2006.
Soaring retail gasoline prices, increased oil company profits, and mergers of large oil companies have garnered extensive media attention and generated considerable public concern. Gasoline prices impact the economy because of our heavy reliance on motor vehicles. According to the Department of Energy's Energy Information Administration (EIA), each additional ten cents per gallon of gasoline adds...
Energy Markets: Gasoline Price Trends
GAO-05-1047T: Published: Sep 21, 2005. Publicly Released: Sep 21, 2005.
Soaring retail gasoline prices have garnered extensive media attention and generated considerable public anxiety in recent months, particularly in the aftermath of Hurricane Katrina. Prices in many areas hit by the hurricane saw retail gasoline prices increase to over $3.00 per gallon, and in one reported case to almost $6.00 per gallon, with some gasoline stations running out of gasoline entirely...
Motor Fuels: Understanding the Factors That Influence the Retail Price of Gasoline
GAO-05-525SP: Published: May 2, 2005. Publicly Released: May 2, 2005.
Few things generate more attention and anxiety among American consumers than the price of gasoline. Periods of price increases are accompanied by high levels of media attention and consumer questioning about the causes and impacts of the price changes. The most recent upsurge in prices is no exception. Between January 3 and April 11, 2005, gasoline prices increased nearly every week, and during th...
Petroleum and Ethanol Fuels: Tax Incentives and Related GAO Work
RCED-00-301R: Published: Sep 25, 2000. Publicly Released: Oct 13, 2000.
Pursuant to a congressional request, GAO provided information on the tax incentives that benefit the petroleum and ethanol industries.GAO noted that: (1) specific petroleum tax incentives range from about $330 million for the expensing of tertiary injectants to about $82 billion for certain cost depletion deductions; (2) some of the tax incentives for the petroleum industry have been in place for...
Alaskan North Slope Oil: Limited Effects of Lifting Export Ban on Oil and Shipping Industries and Consumers
RCED-99-191: Published: Jul 1, 1999. Publicly Released: Jul 1, 1999.
Pursuant to a legislative requirement, GAO reviewed Alaska and California energy production, focusing on the effects of lifting the export ban on: (1) Alaskan North Slope and California crude oil prices and production; and (2) refiners, consumers, and the oil shipping industry on the West Coast.GAO noted that: (1) lifting the export ban raised the relative prices of Alaskan North Slope and compara...
Energy Security and Policy: Analysis of the Pricing of Crude Oil and Petroleum Products
RCED-93-17: Published: Mar 19, 1993. Publicly Released: Mar 29, 1993.
Pursuant to congressional requests, GAO analyzed the pricing of crude oil and petroleum products under normal market conditions and during market shocks.GAO found that: (1) although the Organization of Petroleum Exporting Countries (OPEC) no longer sets prices for crude oil, members' decisions about the supply of oil can still have a significant impact on world oil prices; (2) crude oil is a scarc...
International Energy Agency: Response to the Oil Supply Disruption Caused by the Persian Gulf Crisis
NSIAD-92-93: Published: Jan 21, 1992. Publicly Released: Feb 24, 1992.
Pursuant to a congressional request, GAO reviewed the: (1) International Energy Agency's (IEA) decision to draw down emergency oil stocks in response to the oil supply disruptions that followed Iraq's invasion of Kuwait; (2) U.S. policy on restraining oil demand; (3) U.S. position on domestic sharing of oil supplies in an emergency and oil companies' views on that position; and (4) Department of E...