Emergency Petroleum Allocation Act
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.
|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|
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. )