Word: decontrolled
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...PRICE DECONTROL...
...level comparable to those of oil. On the oil front, there will also be reforms. Under the present system, there are two different prices for domestic oil, both substantially below the price of imported oil (now selling at about $12.50 per bbl. at Middle East ports). Full decontrol would send domestic oil prices up a third, and the Administration fears the political and inflationary impact. The probable compromise: a gradual relaxation of price controls with a ceiling, or "cap," on the maximum price...
PRICES of oil and gas must be set free to find their own levels in the market. Liberals on the board would phase out controls over three or four years to cushion the blow to consumers; conservatives favor more rapid decontrol. But all agree that the Federal Government must eventually remove itself from energy pricing altogether, eliminating the red tape that has engulfed the system...
...depth at higher cost. There will be no incentive to develop these supplies, the industry argues, until price controls are lifted from gas that is piped interstate; the price is presently held at $1.44 per 1,000 cu. ft. Carter's gas bill takes a small step toward decontrol by allowing the gas that is being reallocated to the East to rise to a price of $2.25 per 1,000 cu. ft., an increase that will be in effect until July 31. Whether Carter will move toward further deregulation after that is uncertain. Such a move would be opposed...
...action cut right through the old and stagnant debate between the Administration and congressional liberals over the decontrol of interstate gas. Indeed, immediately after the decision was announced, a coalition composed of consumer groups, labor unions, anti-industry lobbies and the state of Minnesota charged in federal court that the commission had usurped congressional authority by de facto removing price controls on gas. The court issued a temporary stay of the FPC'S order, and lengthy litigation is certain. The delay is good news for consumers, no matter who wins the case: each day of postponement saves gas users...