Full Title: Optimizing US Crude Oil Trade Policy
Author(s): William Collins-Dean, Maggie King, Dylan Lukes, and Ben Zhang
Publisher(s): University of Chicago
Publication Date: February 1, 2014
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Description (excerpt):
We develop a model that determines whether US policymakers should open US crude oil to the international market. Currently, US law prohibits export of US-produced crude. However, given a surge in domestic oil production in recent years, there are now potential benefits to exporting the raw crude. To date, no one has quantified the benefits (or costs) of US crude exports. Thus, the key issues of our study are to identify the benefits of opening exports, to quantify the total benefit, and, because it is a policy question, to qualify the primary recipients of any positive benefit.