Emergency Petroleum Allocation Act
|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|
|Effective||November 27, 1973|
|Statutes at Large||87 Stat. 627|
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.
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. )
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