Gasoline shortage : Hearings before the Subcommittee on Economic Stabilization of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, first session on oversight of the economic stabilization aspects of the present gasoline shortage, May 22 and June 6, 1979 / United States Government Printing Office.

Format:

Book

Author/Creator:

United States Government Printing Office, author, issuing body.

Language:

English

Subjects (All):

Gasoline supply--United States.

Gasoline supply.

Petroleum industry and trade.

Physical Description:

1 online resource (v, 192 pages)

Place of Publication:

Washington, District of Columbia : United States Government Printing Office, 1979.

Summary:

Hearing to eliminate a program that tried to bolster the supply of heating fuel for the winter months. "The Emergency Petroleum Conservation Act, passed subsequent to the 1973 Arab oil embargo, required oil companies to restore past business practices, one of which was the Summerfill program. Past practices restored in the Summerfill program in 1974 included price protection, deferred billing, and a 1-percent discount for product purchased under the program. By economically encouraging jobbers--local heating oil distributors--to store surplus heating oil generated during summer months, Summerfill solves the problem of how to insure sufficient heating oil distribution for consumers during winter months. The Summerfill program will not prevent a shortage of heating oil when supply drastically lags behind demand. But it insures against unnecessary dislocations, spot shortages, so to speak, in cases where adequate supplies may exist, but distribution, especially into the rural areas, has not occurred. Hence, there is a substantial public interest at stake".

Notes:

Description based on publisher supplied metadata and other sources.