Domestic Oil PolicyDomestic oil policy slides [link]
- Overview of oil supply chain
- Two key refining features - differentiated inputs and geographic concentration.
- Keystone pipeline overview and controversy
- Who really benefits from an increase in domestic oil production?
Required reading and response questions
- Read the following CRS Report on oil sands and the Keystone XL pipeline. Note: you can read the intro, and skim the other sections, focussing on the tables and figures.
- Optional: Borenstein and Kellogg (2014) “The Incidence of an Oil Glut”
- What are the main costs and benefits (to the US) of the Keystone Pipeline?
- Do you think the US was right to reject the proposal?
- Listen to this Planet Money [podcast(https://www.npr.org/sections/money/2017/09/27/553990861/episode-524-mr-jones-act)
- And then read this short policy piece
- Do you think the Jones Act should be repealed? If yes, why do you think it hasn’t been? If no, why not?