The Economy and Fiscal Policy, 1974, Hearings Before ..., 93-2, December 11, 12, 17, 18&19, 19741975 - 389 páginas |
Palavras e frases frequentes
$25 billion action administration barrels per day budget authority cartel CHAIRMAN coal committee Congress conservation consumer crude oil deferral deficit degree of monopoly demand depletion dollars domestic oil ECKSTEIN economic rents economists effect elasticity energy policy Erickson estimate expenditures fiscal policy forecast fossil fuels fuel gasoline going higher highway housing impact impoundment incentives income increase industry inflation inflation rate investment Laurence H leasing legislative long-run ment million barrels monetary policy natural gas offshore oil and gas oil import oil prices oil shale OPEC Paul Davidson percent petroleum President problem production proposed question recession reduce rescission reserves revenues ROY ASH Secretary SIMON self-sufficiency Senator ABOUREZK Senator BIDEN Senator CHILES Senator MONDALE Senator Moss shut-in spending statement stimulus supply talking tax cut tion trust fund U.S. SENATE unemployment user cost WEIDENBAUM wellhead wellhead price
Passagens conhecidas
Página 350 - In apportioning any appropriation, reserves may be established to provide for contingencies, or to effect savings whenever savings are made possible by or through changes in requirements, greater efficiency of operations, or other developments subsequent to the date on which such appropriation was made available.
Página 183 - Melvin G. de Chazeau and Alfred E. Kahn, Integration and Competition in the Petroleum Industry (Yale University Press, 1959), p.
Página 350 - USC 665) , is amended to read as follows : "(2) In apportioning any appropriation, reserves may be established solely to provide for contingencies, or to effect savings whenever savings are made possible by or through changes in requirements or greater efficiency of operations. Whenever it is determined by an officer designated in subsection (d) of this section to make apportionments and reapportionments that any amount so reserved will not be required to carry out the full objectives...
Página 134 - Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation.
Página 145 - The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us when the storm is long past, the ocean will be flat.
Página 353 - FOR OBLIGATION. — Any amount of budget authority proposed to be rescinded or that is to be reserved as set forth in such special message shall be made available for obligation unless, within the prescribed 45-day period...
Página 183 - ... identical with our equation (4). See Robert M. Spann, Edward W. Erickson, and Stephen W. Millsaps, "Percentage Depletion and the Price and Output of Domestic Crude Oil," in General Tax Reform, Panel Discussion before the House Committee on Ways and Means, 93 Cong. 1 sess. (1973), Pt. 9, pp. 1318-20. 57. The Policy Study Group of the MIT Energy Laboratory, "Energy Self-Sufficiency: An Economic Evaluation,
Página 140 - ... proper" use. ... A quick way of disposing with the claim is to note that an Arrow-Debreu equilibrium must be an assumption he is making for the economy and then to show why the economy cannot be in this state. The argument will here turn on the absence of futures markets and contingent futures markets and on the inadequate treatment of time and uncertainty.
Página 130 - Department of the Wharton School of Commerce and Finance of the University of Pennsylvania and taught there during the periods of 19651958 and 1961-1966.
Página 140 - In this view, neoclassical systems are only: very useful when for instance one comes to argue with someone who maintains that we need not worry about exhaustible resources because they will always have prices which ensure their 'proper' use. Of course there are many things wrong with this contention but a quick way of disposing of the claim is to note that an Arrow-Debreu equilibrium must be an assumption he is making for the economy and then to show why the economy cannot be in this state. The argument...