This publication is available from the Superintendent of Documents, U.S. Government Printing Office (GPO). Ordering information and purchase of this and other Energy Information Administration (EIA) publications may be obtained from the GPO or the EIA's National Energy Information Center (NEIC). Questions on energy statistics should be directed to the NEIC. Addresses and telephone numbers appear below. National Energy Information Center, EI-20 Energy Information Administration Forrestal Building Room 1F-048 Washington, D.C. 20585 (202) 252-8800 Superintendent of Documents U.S. Government Printing Office Released for printing May 18, 1983 An Analysis of Energy Information Administration DOE/EIA-0396 Prepared by Richard Farmer This report was prepared by the Energy Information Administration, the independent statistical and analytical agency within the Department of Energy. The information contained herein should not be construed as advocating or necessarily reflecting any policy position of the Department of Energy or any other organization. 48-900 0-85--26 CONTACTS This report is a product of the Energy Information Administration (EIA), Office of Oil and Gas, under the directorship of Jimmie L. Petersen (telephone (202) 252-6401). The report was prepared under the general supervision of Frank E. Lalley, Director, Petroleum Supply Division (telephone (202) 252-9844), Barry Yaffe, Chief of the Data Analysis and Support Branch (telephone (202) 252-1142), and Samuel 0. Wood, Jr., Chief of the Data Analysis Section (telephone (202) 252-5692). Questions concerning the contents of the report may be referred to the principal author, Richard D. Farmer, Petroleum Supply Division EI-422, 1000 Independence Avenue, SW, Washington, D. C. 20585, telephone (202) 252-9888. PREFACE The Energy Information Administration has prepared this report to provide a general reference source on the economics of the Crude Oil Windfall Profit Tax. The report provides a general overview of the tax, presents a conceptual analysis of the impact of key features of the tax on petroleum supply, and evaluates 1980 petroleum production and investment data to evaluate the initial impact of the tax. This report is directed at a general audience of policy makers and industry analysts. The reader is assumed to have a basic familiarity with petroleum supply economics and accounting principles, but complex terms and concepts are explained for the lay reader as well. |