The impacts on U.S. energy markets and the economy of reducing oil imports. Service report

The General Accounting Office (GAO) has responded to a request from Representative John Kasich by requesting that the Energy Information Administration (EIA) use the National Energy Modeling System (NEMS) to estimate the cost to the U.S. economy of reducing oil imports. The analysis summarized by this paper focuses on two approaches toward a target reduction in oil imports: (1) a set of cases with alternative world crude oil price trajectories, and (2) two cases which investigates the use of an oil import fee