Wirick, Ronald G.
July 1982
Challenge (05775132);Jul/Aug82, Vol. 25 Issue 3, p42
Academic Journal
The article presents a market analysis of the petroleum industry, as of July 1982, which emphasizes the necessity of implementing a variable oil import duty in the U.S. to minimize the risk of a possible oil price shock. The sharp downturn in the year 1981 to 1982 accelerated the decline in petroleum demand. Saudi Arabia has had both the financial flexibility and the market power to influence the world oil price strongly. Several objections may be raised to a variable oil import duty. Possible counter-arguments are considered in this article.


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