Word: decontrolling
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...station more expensive. At Camp David, Treasury Secretary Michael Blumenthal and Energy Secretary James Schlesinger urged the President to take such action. But Vice President Walter Mondale and Presidential Counsel Stuart Eizenstat complained that this would be a blow to low-income families. At the very least, they argued, decontrol should be phased in. Nevertheless, a consensus did develop at Camp David that domestic oil must be permitted to climb closer to world market prices in an effort both to discourage U.S. consumption and inspire American companies to produce more domestic oil. "The decision," agreed one participant...
White House aides insist that Carter has not yet made up his mind. He could take the dramatic step of immediate decontrol, or he could choose the more modest, but politically safer option of gradually lifting controls on specified types of U.S. oil over two years. Carter is likely to ask Congress to include an excess profits tax that would prevent the oil companies from reaping a sudden bonanza. But whether he will urge that this tax be rebated to low-income families, be set aside for oil exploration or used to reduce his budget deficit apparently was undecided last...
...seems that the more the oil squeeze tightens, the bigger grows the glut of other fuels that ought to be easing the pinch. First came last winter's natural gas surplus brought on by price decontrol. Now, from West Virginia to Wyoming, miners are burying themselves under millions of tons of stockpiled coal that no one wants...
...counter to the Administration's anti-inflation drive. Last week the DOE estimated that gasoline prices would rise by about 9? a gal. under present price controls by the end of 1980, and by about 13? a gal. if the restraints were lifted. Though the department contends that decontrol would probably not greatly increase the premium on unleaded, now 4.4%, it agrees that under the worst of circumstances, the gap between prices for leaded and unleaded could increase to 8?. Some experts fear that a big differential between the two kinds of gas would tempt motorists to use leaded...
...Gasoline decontrol makes sense, but the Environmental Protection Agency wants to bury the idea. EPA officials point out that although gas stations can be fined up to $10,000 for putting leaded gas into cars suited for only unleaded grades, the drivers themselves are subject to no such penalties. More and more motorists are pulling into self-service stations to tank up with the cheaper and peppier leaded fuel, even though doing so ruins their catalytic converters and makes the cars bigger polluters than ever. The EPA fears that decontrolling prices will merely widen the gap between the cost...