Word: decontrolling
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Washington was alive with investigations and promises of investigations to find out what went so terribly wrong at the Metropolitan Edison Co. plant. In his major energy address Thursday night, Jimmy Carter preceded his call for phased decontrol of oil prices and a windfall tax on petroleum companies (see ECONOMY & BUSINESS) with the announcement that he would appoint an independent commission to look into the accident and make recommendations for improving the safety of all nuclear plants. Said the President: "You deserve a full accounting, and you will...
There are, of course, uncertainties and risks. Though economists are willing enough to guess, none can say with confidence what the ultimate inflationary impact of decontrol will be. Nor is it entirely clear just how much decontrol will increase domestic oil production. By Administration reckoning, the gradual phase-out of controls should encourage companies to pump more and more oil from their wells until, by 1982, production reaches an additional 700,000 to 800,000 bbl. daily (the U.S. now uses about 19 million bbl. per day). That would displace an equivalent amount of imported oil, but energy demand throughout...
...that, decontrol remains the most effective energy policy step that the President is able to take. By allowing domestic crude prices to rise to world levels, Carter has sent a clear signal to the nation's trading partners and allies that the U.S. is at long last beginning to face up to the difficult decisions forced upon it by the energy squeeze. The President's speech was widely praised in other oil-consuming countries, and the mere anticipation of what he was going to say sent the dollar soaring in Japan, gold slumping in Europe and stock prices...
...landowners pressed legislators last week to pass two bills that would effectively end rent control, one by phasing it out over the course of a year, the other by ending rent control on individual apartments as their tenants left--called vacancy rent decontrol. "With a 50 per cent annual turnover rate, that is ending rent control," City Councilor and State Rep. Saundra Graham said at the state hearing...
Vellucci, the council's swing vote--who once filed a motion to institute vacancy decontrol--told a jeering crowd at the council hearing, "You're damn right I'm supporting rent control...If it's one thing I've got a reputation for, it's guts...