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Published online by Cambridge University Press: 10 May 2017
On April 5 of this year President Jimmy Carter addressed the Nation on energy. After a brief introduction the President said:
“Federal government price controls now hold down our own production and encourage waste and increase dependence on foreign oil.”
The President then went on to say:
“–I have decided that phased decontrol of oil prices will begin on June 1 and continue at a fairly uniform rate over the next 18 months. The immediate effect of this action will be to increase the production of oil and gas in our own country.”