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Energies 2012, 5, 3465-3478; doi:10.3390/en5093465 OPEN ACCESS energies ISSN 1996-1073 /journal/energies Article The Economic Cost of Unsupplied Diesel Product in Korea Using Input-Output Analysis Myunghwan Kim and Seung-Hoon Yoo * Department of Energy Policy, Graduate School of Energy Environment, Seoul National University of Science Technology, 232 Gongreung-Ro, Nowon-Gu, Seoul 139-743, Korea; E-Mail: mhkim@ * Author to whom correspondence should be addressed; E-Mail: shyoo@seoultech.ac.kr; Tel.: +82-2-970-6802; Fax: +82-2-970-6011. Received: 20 May 2012; in revised form: 27 August 2012 / Accepted: 27 August 2012 / Published: 6 September 2012 Abstract: Diesel is an essential factor in industrial production and development, and thus its stable supply is a crucial element for economic growth. The supply shortage of diesel has massive economic costs, namely supply shortage costs. This paper attempts to apply input-output (I-O) analysis to measuring the supply shortage cost of industrial diesel in Korea by finding an optimal way of allocating the limited diesel resources to different sectors according to the objective of maximizing overall value-added. To this end, a static I-O framework is presented using a recently published I-O table. The results indicate that the marginal cost of unsupplied diesel ranges from KRW 716 (USD 0.65) to KRW 113,376 (USD 103.07) per liter and these costs depend not only on the shortage rate of each non-d