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Would a tariff imposed on US oil imports promote energy development and conservation for the US?
Wiki User
∙ 13y ago
There is no straight forward Yes or No Answer for this question, Oil is a basic necessity commodity. A tariff impose on oil might decreases the demand for oil but this decrease will be very small, as oil is a necessity in a human daily life. There are alternative sources to oil which might be used more but as OIL is bought in rest of the world in US dollars an increase in oil prices domestically will not affect the Value and demand of dollar in global market but It will lead to an Increase in demand for money in local market which might lead to a higher inflation rate which the central bank might control by printing more money thus it will make US product more expensive in the global market and it might increase profits for certain industries in US. This might also lead to a higher structural unemployment in US.
Wiki User
∙ 13y ago
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