“Fears that the planned phaseout of controls would not be carried out, for political reasons, have also hampered production. Ending these controls now will erase this uncertainty.”

– Ronald Reagan, “Statement on Signing Executive Order 12287, Providing for the Decontrol of Crude Oil and Refined Petroleum Products” (January 28, 1981)

I am ordering, effective immediately, the elimination of remaining Federal controls on U.S. oil production and marketing.

For more than 9 years, restrictive price controls have held U.S. oil production below its potential, artificially boosted energy consumption, aggravated our balance of payments problems, and stifled technological breakthroughs. Price controls have also made us more energy-dependent on the OPEC nations, a development that has jeopardized our economic security and undermined price stability at home.

Fears that the planned phaseout of controls would not be carried out, for political reasons, have also hampered production.…

“Despite all the scare tactics and dire warnings, decontrol was a success.”

– Ronald Reagan, “Radio Address to the National on Oil Prices.” April 19, 1986.

My fellow Americans:

With summer coming, a lot of Americans will be driving more than ever, going on “See America First” vacations and driving everywhere from New Jersey to California in everything from vans to buses to motorbikes. This is a good time for it because gas prices continue to fall. In fact, they are falling as never before. The oil price decline of the 1980’s has been a triumph not of government, but of the free market; and not of political leaders, but of freedom itself.

When I first came into office in January of 1981, the price of gas was just about $1.25 a gallon.…