Report to Congress on the economic impact of energy actions

Technical Report · Tue Jun 01 04:00:00 EDT 1976

OSTI ID:7237570

This is the fourth report, as required in Section 18(d) of the Federal Energy Administration Act of 1974, on the effect of the Administrator's energy actions on employment and on the economy. During the time period covered by this report, July 1, 1975, through March 31, 1976, the Administrator considered many possible actions and their implied effects on employment and the economy. Of the actions considered by the Administrator and subsequently implemented as final rulemakings, two could be considered to have a major stimulative or inflationary impact on employment and the economy. These two actions were the implementation of the crude oil pricing provisions of the Energy Policy and Conservation Act (EPCA) concurrent with the removal of the import fees and the elimination of certain profit margin limitations. The pricing provisions of the Energy Policy and Conservation Act reduced the price of new oil to the extent that the weighted average price of all oil was set at $7.66 per barrel. This particular action had a stimulative effect on the economy, even though it increased the tendency to import foreign crude oil. The elimination of certain profit margin limitations should result in some small increase in the price of petroleum products and provide a negative stimulus to the economy. However, the transfer of income from consumers to industry should enhance the long-run supply of petroleum products and decrease the demand for petroleum imports. Twenty-one other actions implemented by the Administrator were estimated to have negligible effects on the economy and employment. (From Summary)

• Research Organization: National Energy Information Center, Washington, DC (USA)
• OSTI ID: 7237570
• Report Number(s): PB-257697; FEA/B-76/384
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
ECONOMIC IMPACT
ENERGY POLICY
ENERGY POLICY AND CONSERVATION ACT
ENERGY SOURCES
ENERGY SUPPLIES
ENVIRONMENTAL EFFECTS
FOSSIL FUELS
FUELS
GOVERNMENT POLICIES
IMPLEMENTATION
INCOME
LAWS
LEGISLATION
NATIONAL ORGANIZATIONS
NORTH AMERICA
OCCUPATIONS
PETROLEUM
PROFITS
SOCIAL IMPACT
SOCIO-ECONOMIC FACTORS
US FEA
US ORGANIZATIONS
USA