Word: costs
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Dates: during 1970-1979
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...imposes price ceilings on intrastate gas for the first time and establishes a complex multitiered price system for new gas, depending on how far new wells are drilled from existing wells containing "old" gas. An additional 300 bureaucrats will be needed temporarily to administer this revised price structure; the cost of the effort has been estimated to total $9.6 million. "The bill has been called an administrative nightmare," says John E. Swearingen, chairman of Standard Oil of Indiana. "Instead it is a regulatory disaster...
Estimates vary wildly on what the bill will eventually accomplish. The Senate Energy Committee figures that the cost of gas to consumers will increase about 10% a year. Consumer groups that fought the bill claim there will be a 353% jump in prices between 1977 and 1985. The Department of Energy expects an annual increase in gas production of 2 trillion cu. ft.; the congressional budget office estimates an additional .7 to .8 trillion cu.ft. a year; consumer groups that favored the bill say no increase at all will occur. Both the Senate Energy Committee and DOE predict that...
...time for wasteful spending is over" and pledged to cut as much as possible from the fiscal 1980 federal budget, which will be introduced in January. Especially vulnerable are some of the programs Carter has pushed to combat unemployment. One example: the Comprehensive Employment and Training Act, which will cost $11.3 billion in fiscal 1979, will probably be trimmed, partly because it has fallen short of its goal of finding jobs for the hard-core unemployed...
...distant memory. Members of Congress want their dams approved before Election Day, and some of them have sent word to the White House that they might abandon the celebrated gas compromise if the President persists in his opposition. But Carter says he will not back down whatever the political cost. "If we continue the age-old policy of pork-barrel allocations in the public works bill," he said at his press conference, the Administration would be setting a "horrible example" for the rest of the nation in the effort to control inflation. If Congress overrides his veto-a distinct possibility...
Taking advantage of the Camp David momentum, Carter is not only fighting for unfinished bills that have been placed before Congress but is even reviving legislation that his opponents thought they had killed. He and Health, Education and Welfare Secretary Joe Califano decided to resuscitate the hospital cost containment bill, which was suppressed in committee last summer by pressure from the medical lobby. Carter probably figures he has nothing to lose politically since the public is angry about inflation in general and about soaring medical costs in particular. In August, hospital costs rose .9%, second only to the 1.1% leap...