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The Impact of President Reagan's Sudden Decontrol of Petroleum Prices on Petroleum Consumption

President Reagan lifted all petroleum price controls shortly after he took office. Previously, the Carter administration had scheduled these controls to be eliminated gradually, with complete decontrol occurring by October 1, 1981. It is of interest to determine the effect of the sudden decontrol on petroleum consumption; in order to measure this effect, the role played by price must be isolated.

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Energy Specializations: Petroleum – Policy and Regulation

JEL Codes:
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Oil, Price controls, Oil demand, US

DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No3-9

Published in Volume 2, Number 3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.