About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

RCED-85-151 1 (1985-08-08)

handle is hein.gao/gaobabfgi0001 and id is 1 raw text is: BY THE US, GENERAL ACCOUNTING OFFICE Report To The Honorable Bill Bradley United States Senate Benefits And Limitations Of Economic Policy Responses To An Oil Supply Disruption In 1982 Congress, concerned with the potential harmful economic effects of an oil supply disruption, passed the Energy Emergency Preparedness Act (EEPA). The EEPA required, among other things, the Secretary of Energy to analyze the effects of a substantial oil disruption and potential economic response policies. In response to the EEPA requirement and subsequent congressional inquiries, the administration has continued to stress a policy of using the SPR and allowing the market to determine the price and allocation of crude oil while concluding that economy-wide response policies were inap- propriate. In December 1984 the administration modified its position somewhat and began to focus on the possible use of such policies targeted to low-income households as the Low-income Home Energy Assistance Program and the Earned Income Tax Credit. However, as of July 1985, Department of Energy (DOE) officials told GAO that they do not plan to develop these programs as economic response policies. Since Congress has shown a continuing concern about DOE's development of an economic response policy, GAO initiated a review of DOE's position and examined several response policies that have been proposed and considered by Congress and the administration. GAO's economic analysis indicates that several response policies (economy-wide or targeted) could offset, to varying degrees, some of the effects of an oil supply disruption, but involve trade-offs or limitations that are discussed in this report. From an administrative standpoint, a block grant policy may warrant advance legislation. Other potential policies such as changes in tax laws could probably be implemented relatively quickly and may not require advance legislation. V,/ D Sl 127772 U 7O GAO/RCED-85-151 -ICeu OU AUGUST 8, 1985 53,q5 a

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most