Domestic price controls

Stearic acid was in very tight supply to the United States rubber industry in 1973 because of government-imposed price ceilings on beef. This caused tallow producers to export tallow overseas to avoid domestic price controls. 

In the past ICI has faced many difficulties not of their own making. The British domestic market for chemicals declined markedly in the mid-1970s. Further, companies had to operate with price controls, a high rate of inflation, and devaluation of the British currency, as well as social and political unrest. In the United Kingdom in early 1999, 10 new projects were in construction [13]. 

Description The government has controlled the domestic prices of all energy products for decades. 

Natural gas has replaced coal to a great extent for domestic and industrial heating. This is a consequence of installation of very large pipelines from producing to consuming places, the rise in solid fuel price, convenience, cleanliness, controllability and versatility as a fuel. The by-product gaseous fuels, coke oven gas and blast furnace gas are well-known important fuel for the ferrous industry, and require no further elaboration. 

To sum up, the major trade-off in a link between the EU and a Waxman-Markey US ETS resides in the benefits of the political signal, uncertain but possibly positive efficiency gains, enhanced domestic acceptance of carbon pricing, and reinforced credibility of climate policy on the one hand. On the other hand, drawbacks include the loss of regulatory control, as well as the potential conflict over differences in system design and policy priorities. In fact, the major benefits might already materialize once the credible prospect of a transatlantic link, perhaps by 2015-2020, has been created. ... 

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