The impact of the Iranian shortfall in the USA

Hiraoka, Leslie S.

doi:10.1016/0301-4215(80)90004-x

Cited by 3 publications

(2 citation statements)

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“…Therefore, the price increases that followed the Iranian Revolution did not occur so much because the quantity of crude was decreased drastically, but rather occurred because of a breakdown in the oil production and distribution system and the panic that accompanied that breakdown. '^ '^For more on this issue see Hiraoka (1980), Aim (1981), Aim, Colglazier, and Kates-Garnick (1981), Neff (1981), and Nye (1981).…”

Section: The 1978-79 Iranian Revolutionmentioning

confidence: 99%

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Impacts of oil disturbances: lessons from experience. [1973-1974 Oil Crisis; 1978-1979 Iranian Revolution; 1980-1981 Iran-Iraq War]

Curlee¹

1983

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An analysis of the impacts of previous oil disturbances can be used to suggest the impacts of future oil disturbances. This paper reviews how the 1973-74 Oil Crisis, the 1978-79 Iranian Revolution, and the 1980-81 Iran-Iraq War impacted the U.S. and world oil markets. Various measures of impacts are considered, such as impacts on physical flows of crude and products, crude and product price changes on the U.S. and world markets, impacts on stocks of crude and products, and impacts on refiners' inputs and outputs. Various macroeconomic indicators, such as gross national product, inflation rates, and unemployment, are also considered. Of particular interest in this study are the impacts that oil disturbances have had (and could have) on the availabilites of particular crude types and the abilities of U.S. refiners to process crudes of various types in the short run. In addition, this paper reviews how the actions of the consuming countries and the major oil companies affected the impacts of past disturbances. The paper briefly discusses the likely causes and impacts of future oil disturbances and summarizes the lessons to be learned from past reactions to oil disturbances. v < LIST OF FIGURES

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Section: The 1978-79 Iranian Revolutionmentioning

confidence: 99%

“…However, this reflects a decrease in imports from almost all importing sources, rather than a huge reduction in imports from a particular source. '^ For more on the government's response to the Iranian disruption see Verleger (1979), Aim (1981), Hiraoka (1980), and Aim, Colglazier, and Kates-Garnick (1981).…”

Section: Impacts Of Government Measuresmentioning

confidence: 99%