Five major issues embodied in various legislative proposals pending before Congress are summarized and analyzed. These issues are: What are the elements of the various legislative proposals to reduce oil imports; how much synthetic fuel should be produced; how do various financial incentives contained in such bills compare; what are the budgetary and economic effects of such measures if enacted; what is the effectiveness of alternative programs to achieve a self-sufficient synthetic fuels industry, to reduce imports in a cost-effective manner, and to encourage broad participation in types of companies and processes. Some major synthetic fuels bills are described according to their production goals, the types of incentives offered and the administrative mechanism for implementing the program. The relative merits of various production goals are discussed. Specifically, a 2-phase program employing a test program first and deferring decision on a future production goal is compared to a single-phase program embodying a decision now to produce large quantities of synthetic fuels by 1990. Alternative mechanisms which could lead to oil import reduction are discussed. Alternative financial incentives are examined for their suitability to overcome key financial obstacles to investing in synthetic fuel plants. The projected budgetary costs of several legislative proposals and the revenue impacts of tax changes are presented. The cost-benefits of goal attainment are discussed. This report also presents general conclusions regarding U.S. energy policy gathered from reports submitted by Booz Allen and Hamilton, ICF, Inc., Cameron Engineers, and the Congressional Budget Office.
United States SenateCommittee on the Budget
Washington, DC United States 20510
- Publication Date: 1979-9-27
- Features: Appendices; Figures; Tables;
- Pagination: 476 p.
- TRT Terms: Benefit cost analysis; Economic impacts; Energy; Federal government; Finance; Incentives; Laws; Production; Public policy; Revenues; Synthetic fuels; Taxation
- Geographic Terms: United States
- Old TRIS Terms: Financial requirements
- Subject Areas: Economics; Energy; Finance; Highways; Law; Policy; Vehicles and Equipment; I96: Vehicle Operating Costs;
- Accession Number: 00334919
- Record Type: Publication
- Files: TRIS
- Created Date: Oct 28 1981 12:00AM