Word: decontrolling
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...prices may be headed down, but the heat on natural gas keeps rising. Some tempers were getting close to the boiling point last week over President Rea gan's industry gas decontrol package, a complex effort to reshape an industry distorted by layers of regulation. Said Robert Hefner, president of GHK Co., an independent Oklahoma City gas producer: "We're getting double-crossed, and we're going to fight like hell...
...structures and would have to join in a common effort to insulate buildings; higher efficiency of home appliances would be required; gasahol production and car pooling were promoted with tax incentives; coal production and use were stimulated, along with the use of pollution-control devices; and the carefully phased decontrol of natural gas prices would bring predictability to the market, increase exploration for new supplies and reduce waste of this clean-burning fuel. The new bills also included strong encouragement for solar-power development. [In a second round of energy legislation, Carter achieved the deregulation of domestic oil prices...
...displacement of low and moderate income tenants, and tenants passed a total of eight resolutions criticizing the lack of affordable housing in the city, the inaccessibility of the Rent Board and its failure to enforce its own regulations, the removal of rent controlled units through condominium conversion, vacancy decontrol, and drastic building rehabilitation...
Instead, the economists generally favored tax increases that would discourage consumption rather than investment. One possibility that had support from the board would be coupling decontrol of natural gas prices with a tax on the windfall profits the industry would reap. The price hike would cut consumption of an important fuel, and the tax could net the Treasury perhaps $20 billion in 1983. Greenspan suggested that Congress might look seriously at the Value Added Tax (VAT), a kind of national sales tax that is used by most Western European countries...
President Reagan has already said he will sign the bill when Congress passes it, but the pipeline will still face some serious hurdles. Arranging the huge amounts of necessary bank financing will be difficult in view of current tight credit, and a Reagan Administration decision to speed up the decontrol of natural gas prices might also complicate the issue. Such a step would make Alaskan gas more expensive than projected and would dim the attractiveness of gas from under the midnight...