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0 sats \ 3 replies \ @Bell_curve OP 21 Nov \ parent \ on: Which department should we cut? Politics_And_Law
Pricing regulation
Price of oil quadrupled in 1973. Plus gas lines in 1973 and 1979. Nixon and Carter responded with price controls.
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0 sats \ 2 replies \ @Cje95 21 Nov
By June 1976, fuel oil, middle distillates, naphtha, and gas oils were no longer under pricing controls. Damn turns out well not by '76 bud....
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0 sats \ 1 reply \ @Bell_curve OP 21 Nov
The point is energy policy was misguided in the 1970s
Oil companies have to pay a windfall tax on earnings. Reagan tried to repeal most of them in the 80s.
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0 sats \ 0 replies \ @Cje95 21 Nov
So again how does this have anything to do with the Department now? Department does R&D for the most part. Typically in basic sciences as well which no company wants to spend on because it doesn’t make money. Companies focus on applied research which the Department does some of but not that much.
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