Word: decontrolled
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...Senate wanted to abolish controls altogether, which would leave the price to be set by free-market forces. Byrd plumped for Carter's bill. He sensed, however, that he would lose in the Senate, which would vote to lift price ceilings. Nonetheless, he figured that any decontrol measure would later be undone by the House when the time came for a compromise on a final version of the energy bill. In the end, reasoned Byrd, Carter would...
That position was not acceptable to Abourezk and Metzenbaum, who flatly oppose any decontrol. They believe the increase proposed by Carter-28? per m.c.f. -would be an unnecessary burden on consumers without significantly increasing the supply of natural gas. Said Abourezk: "If the Senate votes for deregulation, even if it's lost in conference, the gas boys will be back next year and the next and the next. If we can get both houses on record against it, that should settle...
...Federal Energy Administration's (FEA) removal of price and allocation controls from home heating oil. The FEA assured the public at the time that the price of the oil would increase by only two to three cents per gallon. After decontrol, however, the price of heating oil jumped by five to eight cents per gallon, making the added cost of this decision to American consumers more than $800 million, according to The Library of Congrvss...
...consumers money collected in higher taxes will boost living costs and add to the Consumer Price Index. To hold down the C.P.I., the Democrats would prefer that the money be used to pare payroll taxes or increase revenue sharing to states and cities. Republican Greenspan would push for greater decontrol of prices despite congressional antipathy toward oil companies. Greenspan believes that the very existence of a price-regulating bureaucracy creates uncertainty for oilmen and inhibits investment for increasing production...
...they argue, can they get the money needed to finance new exploration. There is some talk in the industry of having the oilmen themselves propose a "windfall" tax on any profits they make that are not plowed back into new drilling. Natural-gas producers will seek a phased decontrol of all prices over three to five years...