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Higher Oil Prices, the Kyoto Protocol, and U.S. Economic Growth
American Council for Capital Formation
November 2000
(PDF)
The effect of a permanent $10 increase in the price of
a barrel of oil would reduce U.S. economic growth, slow productivity increases,
increase unemployment, and have other negative impacts on the economy,
according to an analysis by the respected macroeconomic modeler, Dr. Allen
Sinai, president of Primark Decision Economics. The Sinai-Boston Econometric
Model of the U.S. Economy contains over 1,100 variables and includes considerable
detail on aggregate demand, production, the supply side of the economy,
financial markets, and federal tax revenues. Dr. Sinai’s work is
used frequently by federal government agencies such as the Office of Management
and Budget and the Congressional Budget Office as well as by the Federal
Reserve.
Read
the Full Report (PDF)
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