Energy Security:
Analysis of Studies on Economic Consequences of an Oil Import Tariff
RCED-89-70BR: Published: Jun 16, 1989. Publicly Released: Jun 16, 1989.
Additional Materials:
- Full Report:
Contact:
Pursuant to a congressional request, GAO compared the assumptions and statistical methods of separate studies by the Department of Energy (DOE) and the Harvard University Energy and Environmental Policy Center to determine why the studies reached different conclusions on the economic consequences of a tariff on imported oil.
GAO found that: (1) both studies calculated tariff costs and benefits using economic measures involving welfare losses, the gross national product (GNP), producing countries' tariff shares, and national security; (2) the DOE study, which assumed that the federal government would not change its fiscal or monetary policies to alleviate the recessionary effect of imposing a $10-per-barrel oil import tariff, estimated a net loss of $154 billion to the economy over an 8-year period; (3) the Center's study, which assumed that the government would adopt fiscal and monetary accommodation policies, estimated that the economy would adjust to higher oil prices within 1 year, with a net effect to the economy ranging from a loss of $1 billion to a gain of $10 billion over an 8-year period; (4) both studies' estimates of macroeconomic costs were limited by statistical weaknesses, failure to estimate potential trade losses, and failure to address the impact of deficit reduction on GNP losses; (5) the DOE study's conclusions about the duration and magnitude of GNP losses were within the range of estimates reported in other studies which did not use accommodation policies; and (6) the Center's estimates of GNP losses were smaller than those of other studies which made similar assumptions about accommodation policies.
Dec 10, 2020
Uranium Management:
Actions to Mitigate Risks to Domestic Supply Chain Could Be Better Planned and CoordinatedGAO-21-28: Published: Dec 10, 2020. Publicly Released: Dec 10, 2020.
Dec 8, 2020
-
Offshore Wind Energy:
Planned Projects May Lead to Construction of New Vessels in the U.S., but Industry Has Made Few Decisions amid UncertaintiesGAO-21-153: Published: Dec 8, 2020. Publicly Released: Dec 8, 2020.
Nov 19, 2020
-
Nuclear Waste Disposal:
Better Planning Needed to Avoid Potential Disruptions at Waste Isolation Pilot PlantGAO-21-48: Published: Nov 19, 2020. Publicly Released: Nov 19, 2020.
Oct 29, 2020
-
Nuclear Safety:
DOE and the Safety Board Should Collaborate to Develop a Written Agreement to Enhance OversightGAO-21-141: Published: Oct 29, 2020. Publicly Released: Oct 29, 2020.
Oct 15, 2020
-
Nuclear Weapons:
NNSA Plans to Modernize Critical Depleted Uranium Capabilities and Improve Program ManagementGAO-21-16: Published: Oct 15, 2020. Publicly Released: Oct 15, 2020.
Jul 24, 2020
-
Nuclear Weapons:
Action Needed to Address the W80-4 Warhead Program's Schedule ConstraintsGAO-20-409: Published: Jul 24, 2020. Publicly Released: Jul 24, 2020.
Jun 24, 2020
-
National Nuclear Security Administration:
Analyzing Cost Savings Program Could Result in Wider Use and Additional Contractor EfficienciesGAO-20-451: Published: Jun 24, 2020. Publicly Released: Jun 24, 2020.
Jun 9, 2020
-
Nuclear Weapons:
NNSA Needs to Incorporate Additional Management Controls Over Its Microelectronics ActivitiesGAO-20-357: Published: Jun 9, 2020. Publicly Released: Jun 9, 2020.
May 13, 2020
-
Environmental Liabilities:
DOE Needs to Better Plan for Post-Cleanup Challenges Facing SitesGAO-20-373: Published: May 13, 2020. Publicly Released: May 13, 2020.
May 12, 2020
-
Hanford Waste Treatment Plant:
DOE Is Pursuing Pretreatment Alternatives, but Its Strategy Is Unclear While Costs Continue to RiseGAO-20-363: Published: May 12, 2020. Publicly Released: May 12, 2020.
Looking for more? Browse all our products here
Explore our Key Issues on Energy
- Air Quality
- Climate Change Funding and Management
- Climate Change Response
- Department of Energy's Contract Management for the National Nuclear Security Administration and Office of Environmental Management - High Risk Issue
- Economic Sanctions
- Electricity Markets, Grid Security and Resilience
- Hardrock Mining on Federal Lands
- Improving Federal Programs that Serve Tribes and Their Members - High Risk Issue
- Limiting the Federal Government's Fiscal Exposure by Better Managing Climate Change Risks - High Risk Issue
- Management of Federal Oil and Gas Resources - High Risk Issue
- Managing Federal Lands and Waters
- Nuclear Energy
- Nuclear Nonproliferation
- Nuclear Waste Disposal
- Nuclear Weapons and Forces Sustainment and Modernization
- Oil, Natural Gas, and Alternative Fuels
- Reducing Greenhouse Gas Emissions
- Security of Radioactive Materials
- Tribal and Native American Issues
- Understanding Climate Change
- U.S. Arctic Interests
Explore our other Key Issues here
