Petroleum production and distribution imposes various economic, social, and environmental costs, including many that are nonmarket (involving resources that are not normally traded in competitive markets, such as human health and environmental quality), and external (costs are imposed on others).2 It is important to consider all of these impacts when making policy and planning decisions, such as evaluating energy conservation policies and efficient fuel-tax levels.
CITATION STYLE
Litman, T. (2013). Full cost analysis of petroleum consumption. In Transport Beyond Oil: Policy Choices for a Multimodal Future (Vol. 9781597262422, pp. 51–69). Island Press-Center for Resource Economics . https://doi.org/10.5822/978-1-59726-242-2_4
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