Gridlocked or Gaining Ground? U.S. Regulatory Reform in the Energy Sector

• Published in: The Brookings review Vol. 11; no. 3; pp. 36 - 41
• Main Author: Nivola, Pietro S.
• Format: Journal Article
• Language: English
• Published: Washington, D.C The Brookings Institution 01.07.1993; Brookings Institution
• Subjects: Business structures; Carter, Jimmy (American president); Contract negotiations; Deregulation; Electric power; Electric utilities; Electricity; Electricity distribution; Energy; Energy industry; Energy policy; Federal legislation; Gasoline prices; Government regulation of business; Industrial regulation; Interstate commerce; Laws, regulations and rules; Litigation; Natural gas; Natural gas industry; Natural gas pipelines; Petroleum industry; Pipelines; Power resources; Presidents; Regulation; Regulatory legislation; Regulatory reform; Supplies; Supply; United States; Utility deregulation; Wage & price controls; United States; United States > US
• ISSN: 0745-1253; 2328-2959
• DOI: 10.2307/20080405

The US energy sector has been undergoing a quiet revolution. The US continues to rely, eccentrically and inefficiently, on automotive fuel economy standards in lieu of higher gasoline taxes to conserve fuel. Nevertheless, the nation's oil, gas, and electricity industries have experienced impressive regulatory reforms in recent times. Some of the legislation that had an impact on the industries include: 1. the Natural Gas Policy Act of 1978, 2. the Public Utility Regulatory Policies Act, 3. the Public Utility Holding Company Act of 1935, and 4. the Comprehensive National Energy Policy Act of 1992. Between 1973 and 1990, US dependency on foreign oil rose from 36% to 47% of total use. The US ratio of primary energy use to national output has fallen more than 28% since 1973. If none of the misguided federal intervention predating the late 1970s had been reversed, market forces would not have been able to work their will.