Word: decontrolling
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...unleaded gas is what federal regulations require, and the Department of Energy wants to stimulate production. To do so, it has drafted a proposal for decontrol of all gasoline prices, and last week the Administration announced that the President would send a decontrol bill to Congress in mid-January. Decontrol would immediately add up to 4? per gal. at the pump, on top of perhaps a 1½? increase as a result of the expected OPEC price rise. In addition, decontrol of domestic crude oil to bring prices up to world levels, which Carter pledged in Bonn last summer...
...bite of increased Social Security taxes and the impact of inflation pushing people into higher tax brackets. But the cuts in corporate and capital gains taxes stand to improve the business climate and stimulate investment. The energy bill permits natural gas prices to rise significantly, leading to total decontrol in 1985, and meanwhile imposes the same pricing system on gas pumped and sold within a single state and fuel piped across state lines. Energy executives in Houston forecast that as a result, more gas will flow from producing states like Texas and Louisiana to homes and factories in the North...
...orders of pizza and fried chicken, the conferees emerged bleary-eyed at 2:30 a.m. from the conference room of the House Administration Committee and gave waiting reporters the news: this time, after many false alarms, a gas solution was really at hand. The key features: 1) the phased decontrol of domestically produced newly discovered natural gas, with the price ceiling rising by about 10% annually and being eliminated altogether by Jan. 1, 1985; 2) the extension in the meantime of federal price controls to cover gas that does not leave the state where it is produced, which until...
...committee's dilemma is how to satisfy Senate forces led by Louisiana Democrats Russell Long and Bennett Johnston, who insist on a free market for natural gas, and Carter, who has repeatedly vowed to veto any bill that abruptly decontrols gas prices. The problem is complicated by another Senate bloc, this one led by Ohio Democrat Howard Metzenbaum and South Dakota's James Abourezk, both of whose states are heavily dependent on natural gas; they therefore demand that a federal lid be kept on gas prices. Democrat Henry Jackson, chairman of the Senate Energy and Natural Resources Committee...
Vellucci, however, will remain true to himself. He says he does not plan to change his support of the liberals' positions in favor of rent control and opposing condominium conversion and vacancy decontrol, a procedure that would allow landlords to raise rents when an apartment is vacated...