An Evaluation of the GNP Deflator as a Basis for Adjusting the Allowable Price of Crude Oil,

reportActive / Technical Report | Accession Number: ADA036146 | Open PDF

Abstract:

The price controls on crude oil, beginning in February 1976, allowed the average price to grow at the same rate as the GNP deflator. An additional increase up to 3 per year was also allowed. Furthermore, the two adjustments to price were limited to a total of 10 per year. The use of the GNP deflator to adjust the price of crude oil is evaluated to determine whether it compensates for changes in the prices of purchased items and labor used in the discovery and production of crude oil. A price index for these costs is constructed and compared with the GNP deflator for the period 1965 to 1976. Author

Author(s):
Jondrow, James M. ; Chase, David E.
Author Organization(s):
CENTER FOR NAVAL ANALYSES ARLINGTON VA
Pagination:
0056

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
CRC-308
 Subject Terms
Joint Capability Areas:
JCA_5_Command and Control; JCA_6.4.1_Secure Information Exchange; JCA_5.3_Planning; JCA_1_Force Support; JCA_6_Net Centric; JCA_1.2_Force Preparation; JCA_1.2.5_Lessons Learned; JCA_6.4_Information Assurance; JCA_4.3_Maintain; JCA_5.4_Decide; JCA_6.1.3_Switching and Routing; JCA_3.2_Engagement; JCA_3_Force Application; JCA_8.2_Shape; JCA_8_Building Partnerships; JCA_3.2.1_Kinetic Means; JCA_6.1_Information Transport; JCA_8.2.1_Partner with Governments and Institutions
Communities of Interest:
Human Systems
Descriptor(s):
*COSTS, *CRUDE OIL, PRODUCTION, ECONOMICS, PETROLEUM INDUSTRY, SCIENTIFIC EXPEDITIONS, INFLATION(ECONOMICS), PRICE INDEX
Field(s)/Group(s):
Economics and Cost Analysis
Report Date:
1977 Feb 01