Regulation of domestic crude oil prices. Printed at the request of Henry M. Jackson, Chairman, Committee on Energy and Natural Resources, United States Senate, 95th Congress, 1st Session, March 1977

Book · Sat Jan 01 04:00:00 EST 1977

OSTI ID:7223376

The Energy Policy and Conservation Act (EPCA, Public Law 94-163) which the President signed on December 22, 1975, established a policy with respect to the prices governing first sale transactions for domestic crude oil. This policy directed the President to establish price ceilings for such oil under anthority which would extend through April 1979. The act also directed the President to provide the Congress with a report on February 15, 1977, describing the impact of this policy, as implemented by the executive branch, on the domestic economy and on the supply of crude oil and refined petroleum products. On February 23, 1977, this report was transmitted to offices of the Senate Committee on Energy and Natural Resources. In August 1976 the Congress passed and the President signed the Energy Conservation and Production Act (ECPA, Public Law 94-385). This act amended the EPCA pricing policy. On March 15, 1977, the Federal Energy Administration transmitted the President's proposal together with supporting findings and analyses. This proposal, energy action No. 11, would establish the post-ECPA rate of escalation of 10 percent per annum as a minimum rate of increase for the remaining 2 years of mandatory controls. In order to provide members of the committee, the Congress, and the public with access to the background material prepared by FEA in support of the Administration's crude oil pricing proposals, Sen. Jackson asked that the report transmitted to the committee on February 23, 1977, the FEA's findings and analyses in support of energy action No. 11 and selected supplementary material be assembled in this Committee print and made available.

• OSTI ID: 7223376
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002* -- Energy Planning & Policy-- Petroleum
CHARGES
ECONOMICS
ENERGY MODELS
ENERGY POLICY AND CONSERVATION ACT
ENERGY SOURCES
FOSSIL FUELS
FUELS
IMPLEMENTATION
LAWS
LEGISLATION
NATIONAL ORGANIZATIONS
NORTH AMERICA
PETROLEUM
REGULATIONS
US FEA
US ORGANIZATIONS
USA