Word: pers
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Though advocates of continued price controls often dispute the point, evidence proves that rising gasoline prices reduce consumption. Studies by Economist Alan Greenspan and others show that when prices go up 10%, gas sales from 1.5% to 2% per licensed driver. Argues Greenspan, "It is clear that a very large part of the driving public consciously or unconsciously is quite sensitive to price...
...consumption of the size that would result from a 50? per gal. tax would pay important dividends both domestically and internationally. In the U.S. it would amount to an immediate and forceful warning to all Americans that energy conservation is now a national imperative. Overseas it would help loosen the world market for petroleum, make it at least somewhat more difficult for OPEC to raise prices, reduce prices on the spot market and send a signal to the U.S.'s increasingly skeptical allies that the nation is exercising leadership to curb energy use. Even with a 50? tax, Americans...
Last week the Administration disclosed the details of its proposed emergency rationing plan. Each registered vehicle would be limited to a fixed number of gallons per week, and any driver who did not use his quota could sell his ration coupons on a "white market" for whatever the traffic would bear. Congress rejected a similar scheme last May, and adoption of almost any rationing plan is not expected before next autumn-unless Middle East...
Compounding the sense of drift, Energy Secretary Charles Duncan made public a confusing state-by-state conservation plan that calls for holding 1980 gasoline consumption to about 7 million bbl. per day, just about where economists expect it to be anyway. In an embarrassingly typical DOE bungle, the targets set for New York, New Jersey and Connecticut during the first three months of next year would allow drivers in those states to increase their auto usage...
...stalled and the international financial system itself has been thrown into turmoil. In 1980, oil-importing nations expect to hit what economic jargoneers have labeled a "synchronized recession." Now no one can be sure how high the cartel will push oil prices beyond their present official maximum of $23.50 per bbl., but demand for petroleum makes a substantial increase certain. Single shipments of crude are being sold on the spot market for as much as $40 to $45 per bbl. This shows just how much people are prepared to pay for oil in the pinch that has been created...