Regulations are mandatory rules to follow developed by agencies of the executive branch of the federal or state government. Often these rules are mandated by legislation and assigned to the appropriate executive agency to develop the details for compliance to achieve the results mandated in the legislation. Enforcement, often involving penalties for noncompliance, is the remit of the sponsoring executive agency.
The certainty created by a set price for petroleum should tend to create stability in many other sectors of the economy. Certainty in petroleum pricing should lead to certainty in the industrial sector and to a degree of certainty in the world’s financial sectors, namely less volatility for interest rates and other debt instruments. A higher level of certainty in the financial markets and the petrochemical markets should foster an arena for world growth and stability.