HVAC Breaking News

March 22, 2010: Report Emphasizes Need to Reduce U.S. Consumption of Oil

WASHINGTON - The price of oil is currently hovering near $80 per barrel, but that doesn’t include the potential economic costs to the United States that would be caused by disruptions in oil supply, according to a discussion paper by Resources for the Future (RFF), an independent research group.

The report estimates the oil security premium for domestically produced oil at about $2.28 per barrel in 2008, rising to $4.45 by 2030, in constant 2007 dollars. In contrast, the oil security premium for imported oil starts at about $4.45 per barrel in 2008 and rises to $6.82 by 2030. While that analysis suggests that emphasizing domestic oil production over foreign imports has some advantages, the authors note that the security premium is minor compared to the current and future direct costs of oil, which the authors project to increase to more than $130 per barrel by 2030. Given that high price, the report concludes that the best policy would be to emphasize reductions in U.S. petroleum consumption, regardless of the source of oil.

For a copy of the complete discussion paper, go to www.rff.org/RFF/Documents/RFF-DP-10-05.pdf.

Publication date: 03/22/2010

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 World Energy Engineering Congress

Scenes from the 2014 World Energy Engineering Congress in Washington, D.C.

Podcasts

NEWSMakers: Howard Weiss
Howard Weiss, executive vice president, HVAC Excellence stopped by The NEWS’ booth at the AHR Expo to discuss HVAC Excellence’s upcoming conference, networking opportunities at large expo’s, and much more. Posted on Feb. 27.
More Podcasts

ACHRNEWS

NEWS 02-23-15 cover

2015 February 23

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HVAC Trends

The NEWS regularly reports on HVAC industry trends in our weekly issues. What trends do you see?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con