Word: decontrolling
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...backdown on forecasts of disaster may embarrass the Administration, which has been using the threat of drastic shortages as the main argument for a bill to decontrol prices of newly drilled natural gas rapidly and permanently. Last week the FPC granted rate increases that by July will raise the price of "old" gas in production before 1973 by 6?, to 29½? per 1,000 cu. ft. "New" gas from recently developed wells is going up 1?, to 52? per 1,000 cu. ft. But the Administration contends that these rises are insufficient to spur production of natural gas, which...
...Lately, though, the President seems to have shifted his stand again at the urging of his political advisers, who warn that whatever the economic merits, letting oil prices go up so close to a presidential election is no way to win votes. The Democrats, who have consistently opposed swift decontrol and high oil prices on the ground that the inflationary impact would threaten economic recovery, can now claim, with some justice, a major political victory...
...upshot is that the nation seems likely to wind up with an oil-price policy that has some potentially beneficial provisions and some serious flaws. Gradual decontrol is certainly preferable to abrupt decontrol. But the price rollback, while giving some temporary relief to inflation-pressed consumers, probably would boost oil consumption and depress production. And the bill contains no special tax incentives for pumping out hard-to-get oil. In short, Congress has only postponed the tough steps that must eventually be taken to free the nation from its growing dependence on foreign...
...Real Paper and Gulf Oil owns The Crimson. Other than that, Vellucci said, "we all voted to down-zone mid-Cambridge-we're all for down-zoning." Vellucci now agrees with most of the council that rent control should stay as it is. He had been supporting vacancy decontrol, a measure aimed at students and a transient population, but he said he now believes that "the economy is changing, the squeeze is on, we got to keep rent control like...
...independent-dominated council, liberals contend, is, for one thing, the discontinuation of rent control in its current form. Liberals have previously mustered five votes in favor of rent control only because of Vellucci's defection from the Independent side. Recently, however, Vellucci has proposed a measure called "vacancy decontrol," which would allow landlords to raise rents once an apartment becomes vacant...