Word: pers
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Dates: during 1970-1979
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...report from the Congressional Budget Office, headed by Democratic Economist Alice Rivhn, concluded that such action would enrich the Treasury but result in less oil for the country. The study showed that domestic oil production in 1990 under the tough House tax would be 7.1 million bbl. per day, while it would be 7.6 million with the lighter Senate bill and 7.9 million with no tax at all. Lower taxes encourage more drilling by offering the incentive of a larger jackpot to wildcatters finding...
...sectors and rethink what is possible," says Deputy Energy Secretary John Sawhill. He adds that the Administration is considering ways to boost gasohol production, force utilities to use more coal and other oil conservation measures. Such proposals would save as much as 600,000 bbl. of oil per day; up to now, the U.S. has been importing some 700.000 bbl. daily from Iran...
Both the Administration and Congress remain reluctant to roll out the two Big Berthas of energy conservation: a stiff new gasoline tax and rationing. The White House so far has not supported the proposal by Anti-Inflation Adviser Alfred Kahn for a 50? per gal. tax. Even Connecticut Democrat Toby Moffett, a former rationing advocate, now concludes that that step "should be the last resort." But if plaintive appeals from Washington to "drive three miles a day less" go unheeded, the nation may be forced to begin considering such Stygian last resorts...
...drilling, were putting off new exploration. Major reason: uncertainty over the decontrol of oil prices and new natural gas pricing regulations. The turning point came in June when crude began to be decontrolled. Oil from wells "newly discovered" after Jan. 1, 1979, began to sell at $28.81 per bbl. delivered to the refinery, rather than the artificially controlled price of $13.86. The additional oil from older wells produced by "enhanced recovery" methods, like the injection of steam or chemicals, was also decontrolled...
...raised ceiling prices on some of them. The category of each well had to be determined by federal and state inspectors, and there were long delays as gasmen waited to find out what prices they could charge. The average price that interstate pipeline companies paid rose to $1.20 per 1,000 cu. ft. in August, from 91? ten months earlier...