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Science 19 June 1981:
Vol. 212. no. 4501, pp. 1357 - 1363
DOI: 10.1126/science.212.4501.1357
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Articles

Allocating Petroleum Products During Oil Supply Disruptions

Roger H. Bezdek 1 and William B. Taylor Jr. 2

1 Special assistant on energy in the Office of the Assistant Secretary for Economic Policy, Department of the Treasury, Washington, D.C. 20220
2 Member of the staff of Senator Bill Bradley, Dirksen Senate Office Building, Washington, D.C. 20510

Four options for allocating a long-term, severe shortfall of petroleum imports are analyzed: oil price and allocation controls, coupon gasoline rationing, variable gasoline tax and rebate, and no oil price controls with partial rebates. Each of these options is evaluated in terms of four criteria: microeconomic effects, macroeconomic effects, equity, and practical problems. The implications of this analysis for energy contingency planning are discussed.

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Science. ISSN 0036-8075 (print), 1095-9203 (online)