Stone: Lessons From the Energy Crisis

In celebration of the 40th anniversary of the publication of its inaugural issue, Tax Notes is re-publishing memorable articles from its archives. Lawrence M. Stone (UC-Berkeley), Lessons From the Energy Crisis, 134 Tax Notes 431 (Jan. 23, 2012):

This article was originally published on July 22, 1974. Lawrence M. Stone was a professor at the University of California, Berkeley, a partner in the Los Angeles firm Irell & Manella LLP, and a member of the IRS commissioner's advisory group. During his career, he served as tax legislative counsel in Treasury's Office of Tax Policy and on the president's nominating commission for appointments to the U.S. Tax Court. Stone argued that tax policies regarding the oil and gas industry contributed heavily to the energy crisis of the early 1970s and he presented proposals for how Congress could pare back or eliminate some of those benefits.

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