|The American Presidency Project|
|• Jimmy Carter|
|Executive Order 12153—Price Controls on Heavy Crude Oil|
|August 17, 1979|
DECONTROL OF HEAVY OIL
By the authority vested in me as President by the Constitution and statutes of the United States of America, including the Emergency Petroleum Allocation Act of 1973, as amended (15 U.S.C. 751 et seq.), and notwithstanding the delegations to the Secretary of Energy in Executive Order No. 11790, as amended by Executive Order No. 12038, it is hereby ordered as follows:
1-101. Effective August 17, 1979, prices charged in the first sale of heavy crude oil are exempted from price controls adopted pursuant to the Emergency Petroleum Allocation Act of 1973, as amended. For purposes of this section, the term "heavy crude oil" means all crude oil produced from a property, but only if, during the last month prior to July 1979 in which crude oil was produced and sold from that property, such crude oil had a weighted average gravity of 16.0° API or less, corrected to 60° Fahrenheit.
1-102. The Secretary of Energy, or his delegate, shall expeditiously conduct a public inquiry as to what other types of heavy crude oil, if any, should be exempted from price controls adopted pursuant to the Emergency Petroleum Allocation Act of 1973, as amended, in order to maintain or increase production of such crude oil. Upon completion of that inquiry, the Secretary shall make a recommendation to the President as to what other types of heavy crude oil, if any, should be exempt from price controls.
1—103. The Secretary of Energy may pursuant to Executive Order 11790, as amended by Executive Order 12038, adopt such regulations as he deems necessary to implement this Order.
[Filed with the Office of the Federal Register, 3:32 p.m., August 17, 1979]
|Citation: Jimmy Carter: "Executive Order 12153—Price Controls on Heavy Crude Oil", August 17, 1979. Online by Gerhard Peters and John T. Woolley, The American Presidency Project. http://www.presidency.ucsb.edu/ws/?pid=32755.|
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