Petroleum Price Rollback and Control Act
Latest action. Referred to Senate Committee on Interior and Insular Affairs.
Petroleum Price Rollback and Control Act - Requires the President, under the provisions of the Energy Petroleum Allocation Act of 1973, to exercise his authority under such Act and the Economic Stabilization Act of 1970, as amended, to stabilize the price of domestic crude petroleum. Requires the price of domestic crude petroleum produced from any property to be stabilized at levels not to exceed levels prevailing on May 15, 1973, in accordance with orders and regulations prescribed under the Economic Stabilization Act of 1970, as amended. Provides that the President shall order the price for any such petroleum to increase by the actual amount of increased costs of production occurring after May 15, 1973. Requires that such orders shall (1) state procedures, (2) give adequate and sufficient public notice of any price exceptions, and (3) disallow any profit margins on any crude oil which is greater than the applicable such margin on May 15, 1973. Requires that the regulations under this Act shall apply to any sale of crude petroleum after the date of enactment of this Act and to any sale before such date pursuant to which the buyer first obtains the right to take possession of such petroleum after such date. Defines the terms used in this Act.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on June 5, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on June 5, 1974: Referred to Senate Committee on Interior and Insular Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JAMES ABOUREZK (D-SD) introduced it on June 5, 1974, and 1 member has since signed on as a cosponsor.
They are 1 Democrat.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on June 5, 1974, 19090 days ago. The most recent recorded action was 19090 days ago, on June 5, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers