First Published in 2011. This book presents the results of the third phase of our analysis of U.S. oil imports in relation to U.S. energy policy. It presents a definitive history and analysis of the United States' experiment with formal oil import controls and addresses three questions: The first is how the U.S. energy situation, especially energy security, was affected by what was going on in the rest of the world. The second is the more narrow issue of what energy security options appeared available to the United States from the perspective of the special conditions which existed during 1974-75. The third question, the main subject of this book, and the one with which we initially began, was what lessons might be learned from earlier efforts to limit imports, especially through the Mandatory Oil Import Program.

Bohi, Douglas R.; Russell, Milton

Foreword, Preface and Acknowledgments, 1. Introduction, 2. The Beginning of Oil Import Controls, 3. The Mandatory Quota Program, 4. Major Controversies Within the Mandatory Quota Program, 5. Special Programs in the Import Control System, 6. The End of the Quota and the Search for a New Energy Program, 7. Oil Import Controls and the Crude Oil Market: A Framework for Analysis, 8. The Economic Effects of the Mandatory Quota Program, 9. Alternatives to the Quota, 10. The Quota Program and Subsequent Energy Policy, Index