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The domestic taxation of petroleum products is an important source of revenue in most countries. However, there is a wide variation of tax rates on petroleum products across countries, which cannot be explained by economic theory alone. This paper surveys different considerations advanced for taxing petroleum and presents petroleum tax rate data in 120 countries. It concludes that a significant reduction in the present extremely wide variation in petroleum prices and tax rates appears warranted.
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
May 25 and 26 hearings were held in Dallas, Tex.; July 14 hearing was held in NYC; and Aug. 17 hearing was held in Wichita, Kans.; Nov. 15 and 16 hearings were held in NYC; Continuation of hearings on impact of oil imports on domestic oil and coal production. Includes criticism of U.S. policy of fostering imports by U.S. and Europe of foreign oil. Apr. 24 hearing was held in Jackson, Miss.; Apr. 25 hearing was held in New Orleans, La.; Apr. 26, hearing was held in Lake Charles, and Shreveport, La.; Apr. 27 hearing was held in Little Rock, Ark.; Apr. 28 hearing was held in Oklahoma City, Okla.; and May 2 hearing was held in Santa Fe, N. Mex.
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Committee Serial No. 90-25. Considers impact of mandatory oil import program on domestic energy fuel and mineral industries. Includes Interior Dept announcements of oil import allocations to Phillips Petroleum Co. and other oil companies, 1965-1968 (p. 87-137).
Global Bioethanol: Evolution, Risks, and Uncertainties explores the conceptual and methodological approaches for the understanding of bioethanol technologies, policies and future perspectives. After a decade of huge investments made by big companies and governments all around the world, it is time to talk about the real conditions in which bioethanol will (or will not) evolve. Uncertainties and certainties are discussed and addressed to understand the futures of global bioethanol. The book analyses the evolution of bioethanol in the world's energy mix under technological, economic and commercial perspectives. It gives particular emphasis on the innovative trajectories of second-generation ethanol and their potential in different countries and regions. Future scenarios are proposed in order to evaluate the possible outcomes of ethanol in a global perspective. For providing a thorough overview of the bioethanol sector from different points of view, this book is a very useful resource for all involved with biofuels in general and bioethanol in particular, including energy engineers, researchers, consultants, analysts and policy makers. - Presents a thorough examination of the uncertainties surrounding bioethanol in the future global energy mix - Provides a data-driven and updated picture on the technological, economic, and market trends and scenarios for bioethanol - Offers a foresight analysis on the perspectives of bioethanol as a global commodity - Includes a prospective about who is going to lead the new trajectories in the global arena