Oil overcharge refunds heap windfall on states

Journal Article · · Power Line; (United States)

OSTI ID:6460082

Nichols, C

Oil companies have been ordered to pay back previous overcharges that violated federal petroleum pricing regulations from 1973-1981, with the money to be redistributed to state energy programs. Exxon, with a $2 billion refund to make, is not the only court award pending in litigation. The funds are especially important for low-income advocates, whose programs must compete with other federal energy programs for dwindling state dollars. The Reagan administration could take the money as an offset to the federal deficit, however, on the grounds that its would benefit the general public and avoid overwhelming the states. Advocates for the low-income programs argue that the poor pay more, proportionally, than other customer classes, and should be ensured of compensation through court-ordered restitution. An accompanying chart estimates the size of Exxon's distributions by state.

• OSTI ID: 6460082
• Journal Information: Power Line; (United States), Journal Name: Power Line; (United States) Vol. 11:1; ISSN POLID
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000* -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
CHARGES
ECONOMIC POLICY
ENERGY EXPENSES
ENERGY SOURCES
FINANCIAL ASSISTANCE
FINANCIAL INCENTIVES
FINANCING
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
HUMAN POPULATIONS
INCOME DISTRIBUTION
INDUSTRY
LOW INCOME GROUPS
MINORITY GROUPS
PETROLEUM
PETROLEUM INDUSTRY
POPULATIONS
PRICING REGULATIONS
REGULATIONS