Analysis of the Energy and Economic Effects of the Iranian Oil Shortfall

Gao ID: EMD-79-38 March 5, 1979

In response to a Congressional request, an expeditious analysis of the energy and economic effects of the Iranian oil situation was prepared.

The net apparent shortfall to the United States will be about 3 percent of total consumption. The shortfall will not be large enough to result in a general activation of the allocation program of the International Energy Agency (IEA), but further major cutbacks by other countries could be disasterous. The Department of Energy (DOE) has a number of programs that possibly could be used to overcome the shortfall and help meet the United States commitment to the IEA.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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