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Coping with High Oil Prices: A Summary of Options (CRS Report for Congress)

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Release Date April 19, 2000
Report Number RL30459
Report Type Report
Authors Robert Bamberger, Lawrence Kumins, and Salvatore Lazzari, Resources, Science, and Industry Division
Source Agency Congressional Research Service
Summary:

A near tripling in the price of crude oil from March 1999 to the first months of 2000, coupled with other developments, initially brought about sharp increases in the price of home heating oil and diesel fuel, which are essentially the same product. Gasoline prices then increased. These developments brought about discussion of what might be done to mitigate price increases and possible spot shortages, and what might be done to prevent a similar situation in the future.