Word: decontrolling
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...first showdown is likely to come in about three weeks, when the Federal Energy Administration will try to put into effect the first phase of decontrol. Even if the White House should win the initial test, the stage has been set for a whole series of possibly disruptive confrontations between the President and Congress. Reason: legally, Ford has to resubmit his decontrol proposals to Congress every 90 days. That provision, says Federal Energy Administrator Frank Zarb, would give "Congress a continuing bite at the apple...
...controlled. Under Ford's order of last week, 4% of the old oil would be freed from control each month; over two years or so its price would presumably shoot up to the world price of about $11 per bbl. Zarb estimates that decontrol would eventually add about 5? per gal. to the price of gasoline. The prices of heating oil, industrial fuel and all other petroleum products would be pushed up too. Senator Jackson figures that decontrol would ultimately add $250 a year to the energy bill of a typical U.S. family...
...Little Time. Controversial as the decontrol plan is, Ford has at least avoided an immediate clash with Congress by delaying for a month the scheduled $1-per-bbl. increase in the tariff on imported oil. In February the President imposed the first $1-per-bbl. tariff and planned to raise it by another $2-$1 in March, another $1 in April. Congress swiftly passed a bill temporarily suspending the President's authority to post the increases. Ford vetoed the bill, but struck a compromise: he would defer adding the second dollar until May 1. As that deadline approached last...
...Ullman's discomfort, the committee voted down several proposals to place stiff taxes on the sale of gas-guzzling cars. The House commerce subcommittee has been even more bogged down. Among other things, it has yet to decide how, or even whether to approve a plan that would decontrol the price of oil far more gradually than the proposal that the President has offered...
...Ford's program or his critics' call for a steeper federal gasoline tax-or some compromise between those positions. Congress will tinker and tamper with Ford's energy program in hopes of moderating its inflationary impact. But if, through some legislative miracle, the taxes, tariffs and decontrol measures are enacted as they are now proposed, the average price of crude oil in the U.S. will take a substantial leap from $9 per bbl. to $13. The Federal Energy Administration estimates that the average price of heating oil would rise from the present...