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.

Emergency Petroleum Allocation Act
Great Seal of the United States
Long titleAn 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.
Acronyms (colloquial)EPAA
Enacted bythe 93rd United States Congress
EffectiveNovember 27, 1973
Citations
Public law93-159
Statutes at Large87 Stat. 627
Legislative history
  • Introduced in the Senate as S. 2645 by John O. Pastore (D–RI) on November 2, 1973
  • Committee consideration by Senate Joint Atomic Energy
  • Passed the Senate on November 9, 1973 (passed)
  • Passed the House on November 13, 1973 (passed, in lieu of H.R. 11216)
  • Signed into law by President Richard M. Nixon on November 27, 1973

It was extended by the Energy Policy and Conservation Act of 1975. The regulations were withdrawn by President Reagan in Executive Order 12287 of January 28, 1981.

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. )


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