Do Political Factors Influence U.S. Crude Oil Imports?

Authors

  • Jayson Beckman
  • Getachew Nigatu

Abstract

This work uses a gravity model to estimate the determinants of U.S. crude oil imports, introducing two variables tied to the political nature of trade: U.S. arm sales and the level of political freedom in a country. Model results indicate that contiguity is important for U.S. crude oil imports, but trade agreements are not. Being an OPEC member leads to more exports of crude oil to the U.S. These factors combined with the negative relationship with freedom and U.S. crude oil imports, suggests that the U.S. imports a lot of oil from countries that have little cultural and political similarities.      Keywords: oil, gravity, structural break, U.S., politicsJEL Classifications: Q4, F1DOI: https://doi.org/10.32479/ijeep.11238

Downloads

Download data is not yet available.

Downloads

Published

2021-06-08

How to Cite

Beckman, J., & Nigatu, G. (2021). Do Political Factors Influence U.S. Crude Oil Imports?. International Journal of Energy Economics and Policy, 11(4), 288–297. Retrieved from https://econjournals.com./index.php/ijeep/article/view/11238

Issue

Vol. 11 No. 4 (2021)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.