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ّCurrency: This publication is a compilation of the text of Public Law It was last amended by the public law listed in the As Amended. One of the most interesting was the price regulation and product allocation system set in place by the Energy Policy and Conservation Act of (EPCA) which. The Energy Policy and Conservation Act (EPCA) of established an energy conservation program for pumps and other equipment. EPCA authorizes DOE to .

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Environmental groups have opposed lifting the ban because it would mean more oil sales, more drilling and more oil production with all its environmental impacts, increasing emissions of carbon dioxide and other pollutants.

Nearly 40 years later, the US has met many of the conditions for energy security, and, as an unintended consequence, the provisions of the Act have come to serve the interests of narrow groups within society rather than contribute, in any real sense, to American energy security. Recipients of the loan guarantees are required to have a contract with a customer who is certified by the Environmental Protection Agency to operate their plant in compliance with the Clean Air Act.

It is bound to pipelines, creating several gas stocks that flow from producers to consumers in regional markets. This site uses cookies. Is your work missing from RePEc? This item may be available elsewhere in EconPapers: In Junethe Obama administration had permitted the export of sweet, light oil for the import of heavy, sour oil from Mexico. Secretary of the Interior Harold L. The complexity of energy markets and the uncertainty over the effects of lifting the export ban has prevented a strong public response in favor of either side.

The exceptional export licenses were for oil from Cook Inletoil flowing through the Trans-Alaskan Pipeline Systemoil exported to Wpca, heavy oil from California, certain trades with Mexico, and some exceptions for re-exporting foreign oil. International Business Times, 20 March The EPCA was enacted during a time of unprecedented national duress; its main objective was the implementation of immediate measures to improve resilience and address slow-moving variables such as general oil demand, efficiency, and conservation.

IEA, p This journal article can be ordered from http: Views Read Edit View history. Once again, the API represents the gas producers seeking to liberalize gas exports from the US, and the individual consumer lobby remains unorganized. Furthermore, the President was given authority to order maximum domestic oil and gas production, and the President was directed to submit plans for energy conservation and energy rationing in case of a fuel shortage. epcq


The need for a national oil storage reserve had been recognized for at least three decades. The Federal Energy Administration ‘s authority to require power plants to burn coal instead of natural gas or petroleum based fuels was extended through The primary consumers of gas are private end consumers for heating, power plants for electricity generation, industrial consumers, and chemical companies that use natural gas as feedstock.

Ickes advocated the stockpiling of emergency crude oil in As a result, the US is a net exporter of oil products as these exports usually receive a higher price on the world market. Bibliographic data for series maintained by David Williams. This market inefficiency has resulted in a record spread for refinery operating margins between the US and Europe. Fill was suspended in FY to devote budget resources to refurbishing the SPR equipment and extending the life of the complex.

Retrieved 26 March Domestic and foreign producers both contribute to the stock of crude oil. Complementary to the increased coal production goals of the legislation, the EPCA also provided mechanisms to allow the government to ensure that natural gas and petroleum based fuels are available to consumers in times of fuel shortages or crises.

Rogers The Energy Journal, vol. The EPCA addresses the energy market of the s and presently provides the circumstances through its export bans that undermine the original aim.

Finally, large coal or oil companies are prohibited from receiving loan guarantees. The exceptions for refined product exports, epa were negligible in the s and s, have currently reached record levels [15] and eepca hardly be described as promoting energy security. Both groups assembled shortly after the price crash in that enabled the prospect of exports. Even the immediate goal of the policy, lowering prices, did not usually occur.

Thus, the EPCA presents a case of risk of unintended distributional conflict that undermines the original objectives of the legislation. Despite imposing measures and tariffs to raise prices and spur domestic energy production, it was not intended to be redistributional legislation.

Energy Policy and Conservation Act of 1975

Construction of the first surface facilities began in June The rent-seeking that the act has enabled is most apparent in the organization of separate interest groups seeking to influence policy decisions on the liberalization of oil and gas exports. The benefactors from the epfa export ban remain the refiners which benefit from low US oil prices and high world prices, while the oil producers do not receive a higher price for their oil.


Retrieved 2 April The EPCA, formulated to treat the energy market of the s, restricts market efficiency in exchange for security by making energy more autarkic; it is these market inefficiencies that enable and give rise to rent-seeking. A number of existing storage sites were acquired in Applying the aforementioned theories ecpa special interests, the benefactors of the present situation, those benefiting from low domestic energy prices, seek to perpetuate the market inefficiencies, while opposition groups, eppca wanting to sell energy at world prices, seek to overturn them.

This article needs additional citations for verification. Search for items with the same title. Thus, export restrictions directly benefit the end consumers of gas. Retrieved from ” https: All four of these consumers benefit from cheap natural gas resulting from export restrictions. The market changes and export restrictions in the 11975 create excess domestic supply and lower energy prices in the present.

Energy Policy and Conservation Act – Wikipedia

By using this site, you agree to the Terms of Use and Privacy Policy. You are commenting using your Facebook account. The Act focuses on bolstering energy security, achieved through increased resilience by diversification of energy sources, promotion of domestic production and conservation, and diversified import partners. The primary goals of EPCA are to increase energy production and supply, reduce energy demand, provide energy efficiency, and give the executive branch additional powers to respond to disruptions in energy supply.

Over the years, the American government has imposed a number of regulatory regimes on this industry. Unintended Consequences The EPCA was enacted during a time of unprecedented national duress; its main objective was the implementation of immediate measures to improve resilience and address slow-moving variables such as general oil demand, efficiency, and conservation.