By June 1976, fuel oil, middle distillates, naphtha, and gas oils were no longer under pricing controls. Damn turns out well not by '76 bud.... 

Google is free :)

Pricing regulation 

Price of oil quadrupled in 1973.  Plus gas lines in 1973 and 1979. Nixon and Carter responded with price controls. 


Bell_curve

Okay so first off... The Federal Energy Administration Act created the first U.S. agency with the primary focus on energy and mandated it to collect, assemble, evaluate, and analyze energy information... right there that's called R&D its the beginning of the process so you know what is going on. To further build it out and not create a duplicative entity what did they do I said... oh yeah merge it with the Energy Research and Development Admin to create a unified and cost-effective Department. Congress then got then was smart and because of the power in the office made it Cabinet level to check the presidency as 99% of admin position do not need senate conformation

Politics_And_Law

Which department should we cut?

Okay so first off... The Federal Energy Administration Act created the first U.S. agency with the primary focus on energy and mandated it to collect, assemble, evaluate, and analyze energy information... right there that's called R&D its the beginning of the process so you know what is going on. To further build it out and not create a duplicative entity what did they do I said... oh yeah merge it with the Energy Research and Development Admin to create a unified and cost-effective Department. Congress then got then was smart and because of the power in the office made it Cabinet level to check the presidency as 99% of admin position do not need senate conformation 