Resolution creating a select committee to investigate and study the character of the energy crisis.

Summary

Creates a Select Committee on the Energy Crisis, to be composed of seven Members of the House of Representatives to be appointed by the Speaker, one of whom he shall designate from the majority party as chairman, and one of whom he shall designate from the minority party as vice chairman. States that no more than four members shall be from the same party. Directs the committee to conduct an investigation of the character of the energy crisis, including the following specific areas: (1) the extent of existing petroleum supplies and reserves within or without the United States and under the control of firms doing business within the United States; (2) the extent of overlapping control among the management of international petroleum companies, the degree of oligopoly within the petroleum industry, and the existence of administered prices and artificially controlled production levels; (3) the reason for decline in domestic production and refining of petroleum products within the United States; (4) the effect of changes in the tax laws of the United States on available petroleum supplies; (5) the effectiveness of the Federal Energy Agency, the Cost of Living Council, and other Government agencies in monitoring the petroleum shortage and assuring adequate supplies at reasonable prices; (6) the implications of the energy shortage for domestic and international economic and social stability; (7) the short-term and long-term profits earned, taxes paid, and capital investments of the petroleum industry compared with other major industries; and (8) such other facets of the energy crisis as the committee may decide to study. Directs the committee to report to the House by April 1, 1974, or as soon thereafter as practicable during the present Congress the results of its investigation, together with such recommendations as it deems advisable.

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1 official file

• Introduced in House

  summary · EN · 29 January 1974

  Open at official source

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