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

Long title	An 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 by	the 93rd United States Congress
Effective	November 27, 1973
Citations
Public law	93-159
Statutes at Large	87 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regulations were first decontrolled through a phase-in process by President Jimmy Carter in 1979,^[1] and then fully withdrawn by President Ronald Reagan with Executive Order 12287 of January 28, 1981.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. )