The Producer Surplus Associated with Gasolne Fuel Use in the United States

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" The Producer Surplus Associated with Gasolne Fuel Use in the United States "
Sun, Yongling; Delucchi, Mark A.; Lawell, C.-Y. Cynthia L.; Ogden, Joan M.

Document Type	:	AL
Record Number	:	911856
Doc. No	:	LA0591r5x3
Title & Author	:	The Producer Surplus Associated with Gasolne Fuel Use in the United States [Article]\ Sun, Yongling; Delucchi, Mark A.; Lawell, C.-Y. Cynthia L.; Ogden, Joan M.
Date	:	2019
Title of Periodical	:	UC Berkeley
Abstract	:	Estimating the producer surplus – the revenue above the average long-run cost – is an important part of social cost-benefit analyses of changes in petroleum use. This paper estimates the producer surplus associated with changes in gasoline fuel use in the United States, and then applies the estimates of producer surplus to two kinds of social cost-benefit analyses related to petroleum use: (1) estimating the wealth transfer from consumers to producers as a result of policies that affect oil use and oil imports to the US, and (2) comparing the actual average cost of gasoline with the average cost of environmentally superior alternatives to gasoline, such as hydrogen. Our results show that a 50% reduction in gasoline use in the US in 2004 would have saved the US