Potential Heating Oil Shortages: Hearings Before the Subcommittee on Consumer Economics of ..., 93-1, September 18 and 20, 1973

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125 ページ - The Council intends to monitor the ceiling prices of gasoline, No. 2 heating oil and No. 2-D diesel fuel and will make periodic upward adjustments in the ceiling prices for those products to account for increased costs of imports and of domestic crude.
215 ページ - The 16 companies listed above own and control terminals capable of receiving ocean-going tankers. None is affiliated with a major integrated oil company. Members of the Association are independent marketers of No. 2 fuel oil, No.
22 ページ - The President may delegate the performance of any function under this title to such officers, departments, and agencies of the United States as he may deem appropriate. §204. Penalty Whoever willfully violates any order or regulation under this title shall be fined not more than $5,000.
121 ページ - The two-tier pricing system, which allows new oil to be sold at higher prices than "old oil" is expected to stimulate domestic crude oil production while maintaining price controls on oil presently being produced. The...
120 ページ - Whereas, the present balance of payments situation makes it especially urgent to stabilize prices, rents, wages, and salaries in order to improve our competitive position in world trade and to protect the purchasing power of the dollar: Now. therefore, by virtue of the authority vested in me by the Constitution and statutes of the United States, including the Economic Stabilization Act of 1970 (PL 91-379, 84 Stat. 799), as amended, it is hereby ordered as follows: SECTION 1.
11 ページ - ... its ways. Legal responsibility for achieving the standards is placed on the States which have devised implementation plans ; that is, strategies of regulation to achieve the standards. To date, these plans have evinced two characteristics of extreme importance. First, many of the implementation plans have chosen 1975 as a reasonable time to meet the more stringent secondary standards in addition to the primary standards. Let me back up and be sure we understand that. In other words, the primary...
124 ページ - DOMESTIC CRUDE OIL Social rules apply to domestically produced petroleum. A fixed ceiling price has been established for domestic crude petroleum pumped from oil fields in the United States. This ceiling price is the May 15, 1973, posted price for crude in each US oil field plus 35 cents per barrel. An additional dollar was allowed in December 1973 bringing the controlled average price of a barrel of controlled crude to oil to $5.25.
131 ページ - IV petroleum regulations were published, "to monitor the ceiling prices of gasoline, No. 2 heating oil and No. 2-D diesel fuel and make periodic upward adjustments in the ceiling prices for those products to account for increased costs of imports and of domestic crude.
121 ページ - The regulations of domestic crude petroleum specify the method by which refiners include increased costs of imports in the computation of their ceiling prices for retail sales of gasoline, No. 2-D diesel fuel and No. 2 heating oil and base prices for covered products.
124 ページ - This incentive program operates by releasing from the ceiling prices so-called "new oil" — ie, oil produced above last year levels — plus an adjustment for the remainder of current production. This additional production (the new oil) is not covered by the price ceiling and may rise to market levels. This is generally characterized as a 2-tier pricing system for domestic crude.

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