KInd of like the price controls put on "old oil" back in the late 70s. The problem was who defined old oil. The price controls effectively killed stripper wells and in the end did the exact opposite of what it was intended to due. The reduced supply of oil raised prices and increased imports.
Then lets look at the Bakken. What is the cost of production? I think you might find a $50 per barrel variance there so how does the number get averaged out in the end? The Feds take over all the refineries I guess?
Price controls on gas worked well in the 70s didn't they?