Acronyms (colloquial) EPAA Public law 93-159 | Effective November 27, 1973 Statutes at Large 87 Stat. 627 | |
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Long title An Act to amend Public Law 93-60 to increase the authorization for appropriations to the Atomic Energy Commission in accordance with Section 261 of the Atomic Energy Act of 1954, as amended, and for other purposes. Enacted by the 93rd United States Congress | ||
The Emergency Petroleum Allocation Act of 1973 (EPAA) was a U.S. law that required the President to promulgate regulations to allocate and control price of petroleum products in response to the 1973 oil crisis.
It was extended by the Energy Policy and Conservation Act of 1975. The regulations were withdrawn by President Reagan in Executive Order 12287 of January 28, 1981.
In 1973 and again in 1979 the US Government took control of private stocks of oil under this law. (Jaffe & Soligo, "The role of inventories in oil market stability", Quarterly Review of Economics and Finance 42. 2002. )
References
Emergency Petroleum Allocation Act Wikipedia(Text) CC BY-SA